I finished knitting a pair of mittens from the spindle spun and plied Enchanted Forest yarn (Merino/Bamboo). I knew that they were going to be about as un-matching a pair as possible from the same yarn, but they turned out pretty anyway.
I did some playing with the ribbing though. One of the Interweave e-mail digests featured a no-cable-needle cable stitch that involved YOs and K2tog. I tried their version, and didn't like how it came out- the YO made a hole, and the whole effect was more lace than cable. So I experimented.
Here's the recipe:
Rnds 1-2:* K2, P2*, rep around
Rnd 3: *K 2 tog TBL, P 2*, rep around
Rnd 4: *Pick up and knit 1 st from the previous stitch, a row below the needle, K 1, P 2*, rep around
Rnds 5-7: *K 2, P2*, rep around.
Rep Rnds 3-7 until cuff is approx 1/4" less than desired length.
Rep Rnds 1-2
(I didn't try it, but I'll bet you could make the cable go the other direction by doing a regular K2tog on Rnd 3, and on Rnd 4, pick up the replacement stitch after the K1).