I finally broke down and tried it, and it's working! Socks! I'm doing a basic, toe-up sock with magic loop (I found the technique here).
I was actually going to go all out and try two socks on the magic loop, but realized that in my excitement yesterday, I'd bought only 50g of the yarn (Regia Jacquard color 5181) and I need 100g to make a pair. Sigh. I suppose that means another trip to the yarn store tomorrow so I can get the second skein a.) before they run out of that dye lot (not that it really matters so much to me, it's striped, and I don't care if they match perfectly or not) and b.) so I can get it before we leave on our trip to Illinois this weekend. I don't know if I will be able to get the first sock completely done or not, but I *will* be having at least four hours of airplane time each way. I hope Steve doesn't get airsick! I also really really hope that my Bearfoot and other yarns come tomorrow, or else I won't be able to play with them until next week! (not that I would have time to play with them anyway, but you know what I mean!)
Also, for your entertainment, submitting this pic, thereby busting the idea that "in order to find the most comfortable place in the house, move the cat!" He can stay right where he is, thanks! (Pay no attention to the beer bottle or the state of disarray of the desk - it's Steve's!)