Since I mostly use smaller pieces of fabric from my scraps boxes I don't worry much about the waste. At least I'm using up those smaller pieces and they aren't going to waste. Well, they won't go to WASTE, but some of them sit for years before they get used up. I have boxes for most colors and anything smaller than a FQ goes in them. Really small scraps go into bags that I plan to use for a crumb quilt when I get a few more UFOs finished.
I love PP for the great points, etc. like others have said but I like them because they work for so many things, .......sailboats for a little boy's quilt, elephants on a baby quilt, etc. They are fun to do.