Here's my current lace blob:

The close-up:

The only mod so far is that I went down one needle size so it won't be quite as airy as some of the others out there. I'm a little worried that it may not block out as big as I would like but it is lace and blocking does amazing things to a project.
At this rate, I might actually be done by Christmas. Of course, its just for me. hee hee.