I cut 1 1/2 strips and sort into two tubs, light and dark, and make scappy log cabin quilts with these. One is on my bed now,(queen) and one on my couch (lap). I have made gifts from these also.
I have the Nickel book also and have a tote of 5" squares.
I do have one drawer of 2 1/2 strips
I don't have space to cut other sizes or the inclination. I keep larger scraps in a basket for applique or any project that needs some smaller pieces. I got a template for a tumbler quilt and need 4" pieces. Went through all my scrapes and a few of the 5" squares.