Update...

Just thought I'd post a picture of my second Hourglass. Here it is, in its full one-sleeved glory:

I am knitting the second sleeve now, so not long to go. I can't wait to wear this - I have even done the seaming and weaving in as I went along so I would have less work at the end. :)

The yarn for this one is Jaeger Shetland Aran in a burnt orange colour. The yarn is discontinued and the colour was, as far as I know, never officially released, but I managed to buy a whole lot of this yarn a while ago on ebay. It's wonderfully soft and lovely to knit with. I got gauge immediately.