Lion Brand is actually pretty decent! I don't live near any good yarn stores, so I too buy the "cheap" stuff, but as long as it's pleasing to the touch, I'm ok with that. (I can't wear 100% wool, anyways, because it irritates my skin.)
I have several projects going on, because I can never seem to finish anything: 2 scarfs (one to match a hat I made last winter, one to potentially sell) and a crocheted baby blanket for one of my friends. (Placeholder for pics that I'll add later.) And I have a ball of thick yarn for a chullo-style hat that I need to get some dpns for, because all of mine are too small.