Hey Troy, no matter how you decide to pleat that thing... if you can get the kilt to hang and drape so that the pleats look like Barb's first pictured kilt, you're on the mark. Those pleats look like there's cardboard behind them, holding them perfectly in place!

There are WAY too many kilts out there that wander and pucker improperly. That's a GREAT example of what to gun for. Once you decide how to go, make sure to have a trained professional like Barb help you to get the thing right.