There's also a free, easy pants "pattern"
here.
How soft is the material? A wool quilt sounds wonderful and fun. You could make pull-on soakers or wool wraps. There are free patterns for these linked off of diapershop.com.
With everything I've read about the properties of wool, I've been thinking of making bibs and/or burp clothes with it - one side absorbant (cotton flannel or knit or something) and the side facing the baby out of wool, or wool sandwiched between layers of cotton. But i haven't tried those yet. I've heard some people use wool to make breast pads, if you have any need for those.
Have fun, and let us know what you decide!