Love the poncho. Just too small.
I have an older one from prior to when you started making them in different sizes. The one-size-fits-all was perfect. When I bought this new one, the large size was sold out in almost every poncho and I thought the SM/MD would be fine and would be just a little smaller. Having received it, I think the SM/MD size is good for small children, but not for adults.
Hope that feedback helps you as you plan for the future ie: mfg more inventory in LG/XL, and/or emphasize marketing efforts for the SM/MD poncho to kids.