So, I completed the Old Shale Smoke Ring last night.
I'm going to call this one proof of concept more than anything else. It's too wide (because I cast on too many stitches to begin with), not long enough (because I didn't have enough yarn and I used the wrong weight of yarn too), the wrong fabric (cotton is not ideal for this kind of thing) and definitely not my colour.
But - I now know I can do it, I've solidly got the hang of the old shale/feather & fan lace pattern and working on circular needles. I also used Jeny's Surprisingly Stretchy Bind Off for the first time, and got the hang of that too. I'm happy with the result.
I'm definitely going to make more of these with 4 ply rather than DK, I've got my eye on some silk which will work beautifully.