I have always thought of the Shirtwaister as a shirtdress that has a waist seam whereas a Shirtdress is an extension of a shirt. I have searched this online and most manufacturers do not distinguish the two. I will though stick to my guns and call this a Shirtwaister.
Having the waist more defined can give a better fit and there is scope for the shape of the skirt. You can for example add flare to the skirt. I would say it is a smarter dress than the basic shirtdress although it is still perfect for casual dressing. The opening is in the side seam, nicely hidden away. Belt it if you like or make a self belt with fabric covered buckle.
The bodice features a nice dropped shoulder line and a rever collar. The buttoning up gives the dress a smart tailored look - great for office wear but looks equally at home on the beach. The skirt is softly pleated at the front with nice big pockets and is gathered across the back - a very comfrotable and wearable style all round.