It didn't take long for me to figure out what to do with the yarn from my Ugliest Knit Ever. I decided to give rpm a whirl, and I think it's turning out quite nicely:
(here the sock is doing its best imitation of a triggerfish)
It took me a couple of attempts to make the short row heel. I like how the stripes kind of match up, though don't really. I knit the heel over 32 stitches, 10 wrapped stitches per side. On the first round after completing the heel, I did m1 increases at the beginning and end of the instep stitches, and then decreased back again on the next round, to avoid any big holes between the heel stitches and the instep stitches.