New Knitty

So the new Knitty is out (up?), and I keep coming back to it. There are a lot of cute designs, especially the little animals/critters (they remind me of some Beanie Baby-sized animals I crocheted several years ago). Of all the designs, though, I'm positively taken with this, and I think it might have to be my next project for myself. I so cannot spend a fortune on 100% cashmere yarn, however, so I am thinking about what a good substitute might be (especially a substitute that is relatively cheap, since I will be buying a lot of it -- KnitPicks anyone?) I would like to formally solicit anyone's imput on this one.

Also, I'm a little nervous about working with the pattern if I use another yarn, because I'm not sure I can get the same gauge. I haven't had enough pattern experience to know how to play with gauge and measurements and patterns and such, so I don't know what I would have to do edit the pattern to work with another yarn. My gut instinct is just to go for it and pretend I don't care, but I have a feeling that with a fitted garment like this, that just won't fly. Anyone out there really good with math?

Update on the WIPs:
1) J's scarf is just over 5 feet long, and I'm about to join the final skein of yarn to finish it. I'm planning to make it 72" so that when I felt it, it will still be long enough to wear it the European way (doubled over, wrapped around the neck, with the ends pulled through the loop in the middle), which is how J informs me he liked to wear his scarves. (I cannot confirm this, since I don't think I've ever seen him wear a scarf, but I'll just have to take his word for it.) I am planning on finishing it by the end of the week, and hoping to felt it this weekend. I promise to take before and after pictures, but I can only post them soon if J will promise not to peek. Of course, I might not trust him anyway and just wait until after the holidays to post them.

2) Mystery project is coming along slowly. I've been working on it at lunch just about every day, but I never get more than about an inch done per knitting session (damn that fingering weight yarn!)

3) Clappy (my clapotis) is resting on her needles right now. I did a few more repeats of the straight rows last week, but have done nothing since. I'm about halfway done at this point, and starting to worry that I may be one skein short on yarn. I think I'm just overreacting as usual.

4) The yoked, top-down baby sweater I knit last weekend is still sitting on my couch, still awaiting buttons and blocking. I am going to try to dig through my button collection and see if I have five that (more or less) match; otherwise I'll need to make a trip to the craft store this weekend.

Give me your thoughts on yarn and pattern-tweaking for Blanche-Neige!