I've never used merino lace weight yarn but I bought some cashmere lace weight on ebay a while back. I've been knitting this lace scarf for like three months! I keep stopping to do other projects. But I love the yarn, it's super soft and the color is beautiful. If I can remember the seller I'll post it.
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I've not had a lot of experience with lace, but I have the perfect Seasilk lace wt yarn, it feels heavenly; misty alpaca lace is yummy feeling and i can't wait to try the Jagger Spun silk/wool lace I have and i have gorgeous Addi lace...lol, all waiting in the wings for lace projects that i have on my list, but until i've knit 15 or 20 pairs of socks for Lonnie all that will have to wait! Oh, and Crystal Palace Kid Merino is luscious .... but I've doubled it to make the "A Touch of Whimsy Socks"
The only lace wt yarn I've used for a lace project is one of Knitpicks', it was the 1st one they had and it was okay.
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I've never used merino lace wgt either, but I'm thinking it will make a soft and warm lace piece. Be sure to get one that's spun strongly and use a lifeline.
I've used KP Shadow, Zephyr and Seasilk. I like them all. I tend to prefer lace yarn with a little crisper definition than soft merino can provide. But that, of course, is a matter of choice. I also like almost solid shades because they don't conflict with busy lace patterns.
I am working with some merino laceweight yarn right now and really prefer using the kid mohair laceweight. This doesn't feel nearly as soft. It does keep it's shape pretty well, though - at least in the knitting stage. (I've also used Zephyr laceweight, but didn't get far enough in the project to have an opinion on that.)
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I've got some merino laceweight (Ornaghi Filati Merino Oro) in my stash, waiting to become shawls for my grandmothers. It feels quite soft in the skein, but as I haven't knit with it yet, I can't testify to how it works in a project.
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