On circular needles, you only don't have to purl if you're doing plain stockinette stitch. When it tells you to purl even for 1", on circular needles that will give you reverse stockinette stitch. The purl bumps will be on the outside of the garment and the knit V's will be on the inside.
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Yep, you got it. It will have a reverse stockinette border but I imagine you will then start stockinette which will be knitting every stitch of every row.
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Ravelry username: HeatherDD