I just learned to knit socks on 2 circular needles! I am hooked as it is so much easier than 4 or 5 double pointed needles. Heel Turning and Gussets are so much quicker. I can see knitting many mittens in my future using 2 circulars. I am using Cascade's Fixation elastic yarn and it gives an awesome comfort and fit.
I find it amusing that I always buy the cheapest socks on sale and here I am paying money for yarn and taking the time to knit socks! But we don't knit to save money, do we? It is totally cheaper than a shrink!