I finally decided to at least get the wool sorted as part of the January 1 Challenge on the 2MuchXS list: http://groups.yahoo.com/group/2muchXS/
On January 1, I got all the colors arranged and put in the first few stitches. I finished the stitching this past week only to realize that I didn't have any stuffing to make it into a pillow! Saturday, I made it over to Walmart to get the polyfill and later that night, finished the assembly.
Here's a picture of the finished pillow: