I've been eyeing more luxurious yarns lately too, primarily with the intention of buying a skein or two to make fingerless gloves or mittens for the coming winter. I still haven't decided on anything, though I'm leaning toward a silk-blend something, maybe with mohair. I'm not sure about weight. And I'm also trying to be a little cautious with the budget, so I may be waiting a while.
My latest knitting project is this wrap that I've been working on while I watch TV (mostly The A-Team lately - I love our Roku). It's supposed to have a slight bit of ribbing to it but I keep loosing count of knit and purl stitches and so it's a bit wonky. The yarn, Lion Brand Homespun, is sufficiently knobbly and fluffy that it really isn't all that apparent that I fail at counting and paying attention. I have to say, I really like the softness and texture of the yarn. Now that I've gotten more experienced with knitting and crocheting I can actually make out my stitches in this too, which makes it far less frustrating to work with (beginners take heed). And the colorway - Corinthian - is really more lovely than I've managed to capture with the photo. Lots of rich jewel tones. So, hopefully this will be a nice wrap for me either around the house if it turns out a bit wonky or for going out if it winds up being nicer.