Thank you so very much, Gentle Readers, for your many enlightened words on the subject of my Monogram Problem.
As you can see, I Muggled it, and went with the Duplicate Stitch plan:
I'm waiting with baited breath for the last skein to arrive in the mail so I can make the other sleeve. I know: Will there never be a day when I estimate yardage properly?
The fact that there will likely be a difference in color between the second sleeve and the rest of the sweater was one of the driving factors in my decision to Muggle Out on the initial. This will be a play sweater, not a masterwork. I elected to let go of the notion that everything I knit has to be some sort of statement about my proficiency, or my authenticity, or my validity as a knitter. I relaxed and had fun knitting something quick and easy. Well, easy if you don't count running out of yarn. And I don't. That was a direct result of my inability to recognize the actual size of my children until after I had ordered the yarn.
I like the "font" of this L. I think it has just the right sort of quality, and its scale & proportion make me happy. I also was able to locate it exactly in the right spot on the sweater with a minimum of fuss. In light of all that, I think I made the right decision this time. The biggest trick has been finding moments to work on the thing, since both Smallies have been out of school for the last 5 days. Late-nite knitting anyone? I'm starting Campbell's next, before I lose momentum.