The next two pictures show an installation done differently. The center board is mounted slightly higher than the two side boards. I prefer this to the first style. The client preferred the first style.
Federals look and hang best when the hem is edged with some type of trim, whether it is fringe or even a self-pipe. I've often finished the hem with a contrast fabric or a bias cut border of the body fabric. They most often are a formal treatment but with the right fabric they can also be casual.The Pinch Pleat panels under the valances add to the formal feel of this room.