I am always making new rugs :) i love making wool rugs best!
i've knitted and felted rugs, hooked rugs, quilted rugs...you get the picture...
although i have not actually used the cotton theory i did make one using the same concept (from the book "Reversible Quilts Two at a Time" by Sharon Pederson)
I love the 'stiff-ness' it helps keep the rug flat, but still has an awesome wool give/cozyness. i'm not a fan of the cotton theory technique, so don't know how that would turn out.......seems overly complicated, i believe more in the kiss system :)