Given your recent realizations about Christmas Knitting, I think you need to read this recent post by Rachael.
Also, you could always dye the extra alpaca. Just saying. :)
This is sort of a fly by post because I've had an exhaisting week, and have another one starting tomorrow (yes, working on Sunday), and I need to do laundry and such.
Also, not much knitting has happened recently, except on socks because I can knit them in bars. (Yes, I am in fact weird.)
I've decided to finish sleeve #2 of Eris and knit the cuff at a smaller guage and see if I like it better, and then if I do I'll rip out cuff #1 and reknit. Unfortunately, in that Eris is an entire sweater, this means it only gets knit when I have time at home, which is a rare proposition.