It's turning out this lovely, gunmetal grey color, and I think when I'm don't spinning it, I'll ply it either 2 or 3-ply and make a smoke ring out of it, something like this or this.

My homemade spindles are spinning very well, which is exciting :)  It's amazing how easy it is to make them well-balanced with the drill press, especially since the first one I made, without the drill press, required an ocean's age worth of sanding to get it to spin decently.  These new ones will spin for ages and ages, leading me to finally try actually dropping the spindle.  It's hard, because you feel like you're losing control of the process, but it works pretty smoothly as long as you've got the drafting process down, and as long as you pay attention to what you're doing.  I miss my wheel like crazy, but if anything I'm glad that I've been forced to go back to the spindle so that I could refine my technique a bit.  I actually don't think I'll use my wheel for luxury fibers any more after this - you get a much nicer, much  more consistent product with the spindle, and plus then you get to spend more time doing it, which is largely the point of buying a nice, soft fiber like this one.