There are some loop holes of course, shoes and scarves aren't limited, and my friends tell me that the sleeveless tops that I wear as tops in the summer count as vests at this time of year.
You can also wear other clothes for sports and if you need specific work wear...so it won't really be very limiting at all!
I am excited about the ease of getting dressed in the morning with less options, and love the feeling that comes from knowing that you have enough and the motivation it gives me to keep paring down.