I finally got the lathe spinning this weekend.. after looking into much of the advice offered both here and in rec.crafts.woodturning
I've been knocking out some pens.. (European Roundtops, just to start) and I have to say, alot of fun to make. will try some mech. pencils tomorrow, make some pairs to box up and sell as stocking stuffers, etc, if the market allows.
My favorite is the one in Bloodwood.. with the maple being my first one.. (didn't want to risk ruining an EXPENSIVE piece of wood!)