The audience gave an enthusiastic standing ovation at the end of Bill Blass' historic final presentation. It was a well-deserved send-off for a true master of American fashion, who has decided to retire after decades of designing glorious American sportswear. His swan-song offered plenty of Blass favorites: floral organza strapless dresses, embroidered sweater and skirt sets and clean, sophisticated suits in black and ivory. There were also some fun, youthful twists in his farewell collection, including zebra-print column gowns, beaded hot pants, and bold tops and skirts in vivid shades of aqua, red and pink. It was a fitting finale for one of this country's best designers.