Is Shabby Chic Back?

Remember "shabby chic"?

Yesterday, The New York Times wrote about Rachel Ashwell, the L.A. designer whose "Shabby Chic" brand went bankrupt a year ago and has been revived thanks to a new flock of investors. Shabby Chic, like comfort food and knitting, seems to be the type of down-home coziness people are looking for during a recession, but do we really want to look shabby? Or is the look more suited for those who've got the money to slum?