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I am currently working on the edging for the Lacewing shawl by KnitSpot. It is taking a long time. After that I really don't know what to start. I got a few knitting books for Christmas (The Knitter's Book of Wool by Clara Parkes and Twisted-Stitch Knitting by Maria Erlbacher). I think I will work on another set of arm warmers with a twisted stitch motif. I also have to finish spinning the Merino roving I got a long time ago (actually before I bought my wheel). I am not loving the finished ply and I will probably have to make a 3-ply to get anything remotely even in thickness. I guess I prefer spinning worsted instead of woolen and this is not the best fiber prep for that.
My goals for this next year are to make a dent in spinning some of the fiber I already have before I get to MS&W in May; knit a few more pairs of socks than last year; try my hand at designing some items; and I think I already have an idea for one Christmas present for next year to get started on (after consulting my color expert).