Hi! This should be a fun knit, and I especially want to see what everyone else comes up with. It's kind of killing me that I don't get to do any of the pretty cabling for a long time yet.
I started the cardigan earlier this week, so I'm currently working my way through the ribbing. I'm using Knitpicks Palette in Garnet Heather. Although I don't know how comparable it is to the suggested yarn, it does seem to fit the basic requirements (wool yarn with which I can get the required gauge). It's not especially soft, but I like it. It doesn't hurt that the total cost of the yarn comes to under $20.
I had to use size 3 needles to get gauge, which surprised me, since I usually am either right on with the suggested needle size or a bit too tight (so I go up a needle size). It makes even less sense when you consider that Palette is actually a fingering weight yarn, while the Rowan Felted Tweed is sportweight. Maybe it's just that I haven't been knitting that long, and my knitting style is still changeable.
I posted a progress photo here.