I don't cut down larger pieces of fabric - I want the maximum available for future projects. The only time I cut down fabrics is when I've got smaller than a FQ, then its Bonnie Hunters method, down to 10", 5", 3.5, 2.5, 2.0, 1.5 strips. Those are wonderful when I want a quick quilt, as I just go to each size stash and sew from that -- plus I love scrappy quilts, which is what I end up with. Even the uglies go into these piles -- as Bonnie Hunter says, if the fabric you're using is still ugly, you haven't cut (or sewn) it small enough yet! I often turn those around, too, as usually the back side of the 'ugly' fabric is useable 'as is'.