So in one evening I was able to quickly finish Olivia's Toque - and the next morning she tried it on but it is definitely too big - not around, but in height. I plan to take a couple rows out and try again, and then I need to find a button for the finishing touch. But all in all I'd say it was a successful project, and I plan on making a matching one for myself, although perhaps in cream.
Ethan decided that he liked the "test hat" so he might end up keeping that one if I don't get around to making one specifically for him. Because, well you know, I'm busy and all.