Ease?

Yay! My first KAL, and I'm so excited! I've been wanting to make Orangina for a few months, so this was the best motivation.

I just got my yarn yesterday, so of course last night I swatched and cast-on. I'm actually using the Rowan 4-ply cotton, in color Aegean, my first project with the suggested yarn. I love the color, and it's really soft. Of course, it's not as stretchy as I'd like, but hey, it's 100% cotton, right?

Is this pattern supposed to have any ease? From what Stephanie said in her swatching/gauge post, it doesn't, and then in Wendy's (knit&tonic Wendy) pic on her FO gallery, it looks a little stretched. I go between a 40-41, so I'm working the 42 size. Do I need to frog? Plus, I'll be training for a marathon this summer, so I'll (hopefully) be shrinking a bit. Oh no. I should do the 40 size, huh? Oy. To frog or not to frog...