The first time I tried knitting in the round, I used double pointed needles. I knitted an alligator. This is the pattern
http://www.scribd.com/doc/56806270/Baby-Gators-from-Knitting-Mochimochi-by-Anna-Hrachovec It went OK but the double pointed needles were kind of fiddly. I have to pause my knitting to take care of other things often and I find that it makes circular knitting a pain. So I tried two circular needles on the next alligator. It went a lot better.