The Joy of Knitting... Socks

One day about seven months ago I decided to teach myself to knit socks. I went out & bought this ball of Lion Brand Magic Stripes sock yarn & some frighteningly skinny # 2's. I was already totally comfortable using double points, that wasn't the issue. The needles were so teeny tiny thin, the yarn was so skinny... I didn't get 3 rounds into the ribbing before I put it all away and worked on something else. A couple of weeks later I took a sock class, using worsted weight yarn, & as I have said before, it was disappointingly easy, turning the heel and all of that, a sleep walk. So anyway...
Seven months later, which is now, I decided to pull out that ball of sock yarn & knit some socks that I could actually wear with shoes. EASY PEASY! I am using size 2 needles and loving it. Go figure. I have already bought another ball of sock yarn (pictured below). I think that I just might become one of THOSE people, yes you know who I am talking about, THEM... "Sock knitters".

My new ball of sock yarn, Lana Grossa Multiringel, in the most delectable colors (#5122). I have a second ball of this on hold at the shop, I want to knit knee highs with this yarn, am I crazy? Is that a reasonable dream? I know that the 100gram ball is supposed to make one pair of socks, but how tall, just how much sock can I expect to get out of one ball? I know that a pair of knee highs will certainly need more than one. Any ideas from you "sock knitters" out there?
The other two heart breakers in the photo are Rowanspun Aran in # 972 Hardy. It is discontinued, it's beautiful, & it's mine all mine! Don't know what I am going to do with it, I would love to find more. In the meantime, I will just gaze upon it!