The Naked Velvet Scarf??

So, for the Ravellenic games, I'm finishing WIPS.  One of my oldest works in progress is the Vintage Velvet Scarf from Scarf style.  I started it 5.5 years ago when I was living in Kansas city.  So, I'm using the yarn it calls for the Meunch Touch Me yarn...that is more than 5 years old because I bought it from a woman who had it in her stash...so needless to say, the yarn is a bit fragile.  The yarn is viscose and wool.  It's broken in places and in places, it seems as if the furriness of it's coming off.  So, I'm asking you, the 2 people who read my blog, when I felt the project, per the instructions in the book, is it going to
a.  Fall Apart
b.  Lose all it's fur becoming the Naked velvet scarf
c.  come through with flying colors and look awesome.

You can plainly see from the title, which I think is going to happen...and if it does indeed come out that way, I will laugh my ass off...