If I were to do an entire fancy blanket in a KAL, I'd prefer the aran squares, as I'm not fond of knitting fair isle. Or a blanket with many different types of knitting in it.
I made one years ago, in 5 strips. I would knit with one pattern for about 6 inches, then switch to another pattern for another 6 inches and continue like this until I had the length I wanted. Then I knit 5 more strips, continuing with changing the pattern. Unfortunately, I gave the 5 strips, which took me over a year to knit, to my mother, who then knit a dark border around each strip,(complete with white dog hairs knitted in) and then gave it to a non-knitting friend to sew together. She sewed it together all bass-ackwards! one or two strips would be right-side up, the next: right side down, then up again. I was so hearbroken, I kept the blanket for a year, but everytime I looked at it, I'd feel sad. So much of my knitting work wasted.
I gave it to the Salvation Army store. My DH brought it in, I waited in the car. He said a woman snatched it up as fast as he put it on the table. I felt slightly better.
So, although I'd love to join a blanket KAL, I fear the bad memories will return.
but maybe it's like having a car accident....they say you need to get back at the wheel asap!