Totally normal. I decided this year to finish UFO's. Doing OK so far. Only new quilts started are for a designated purpose, like baby quilts. Also making scrap quilts for charity, but nothing new for myself until I whittle down my pile, which is currently about 12 UFO's and one kit not even cut yet.
As for thread, I like to use cotton. Whatever does not leave too much lint and something my machine likes.