My latest wraps based on this principle are from a variety of fibers, and knit on the Passap 6000; the Passap allows for more tucked rows, which in turn provide the wider width for the “ruffle” at the top and bottom of the piece
altering the height of the “bottom ruffle” to about half changes the angles in the drape in the front
my previous posts on the topic of attempting to achieve circular knits on the machine:
2011/06/24/taking-it-to-a-garment/
2011/06/25/taking-it-to-a-garment-2-donuts/
2011/06/30/taking-it-to-a-garment-3a-2/