Who's tried machine knitting? I'm a gadget guy (I don't even want to think about how much I've spent on cake and sugar tools over the years), so I used a 50% off coupon at AC Moore yesterday and splurged.
So far with just a couple practice runs, it seems to work fairly well, though dropping stitches is fairly easy. I assume proficiency comes with more practice. I haven't officially made anything yet, but I was astounded at just how quickly I got a 12x12 piece of knitted fabric out of it. Of course, anything other than Stockinette takes longer as you have to manipulate stitches by hand. But still.
It'll never replace hand knitting for me -- like the theraputic value of creating a piece stitch-by-stitch. But for knocking out things in a hurry (especially for felted work, I'd think), it sure seems to fill a niche.