I have knit with it a few times. I bought several balls of the yarn at the same time in different colors (for at least 5 different pairs of socks), and i'm now trying to use up the last of it. I'd say it's an okay yarn, but certainly not "wow." It isn't particularly soft or full like Mountain Colors sock yarns or something like that. Essential doesn't feel luxurious when you put it on. Once i used good yarn, i could see the difference in performance clearly. I've also knit with more durable yarns, which you'll notice the more socks you knit. When some socks you can wear and wear before needing to repair but others you always seem to be mending, you start to appreciate yarns for how they last. Also, many of the colors in the Essential line are kind of dull... not bright, i mean. I still like the burnt orange color and brown is fine, but i was a bit disappointed in the blues and green that i purchased.
I wanted to warn you, too, I have had some of Knit Picks "Superwash" wool felt on me when i put it in the washer with warm water (ruining the socks), so now i only hand wash the Knit Picks yarn even when it says it's machine washable. It wasn't the Essential that shrunk but another Knit Picks sock yarn, but i don't trust washing the Essential in a machine. I haven't had any trouble with Superwash yarns from other companies, so i don't think it's my washing machine, but might be how Knit Picks processes it's Superwash wools.