If you go to this site http://atecousa.net//home/ and click on 'learn' there are short tutorials that show you how to apply fondant to your cake. It's really helpful. I haven't had any pleating yet! Good luck
I have just recently started using Satin Ice fondant and I love it! It's easier to work with than the marshmallow fondant that I was making myself. I dyed it blue for a cake that I made a couple of days ago and it turned out just fine. Good luck with your cake!