Here are some lace knitting tips that may be of some help during the Knit Along:
Get some stitch markers. Lots of them. More importantly, use them! Put stitch markers between each repeat. Use different colored stitch markers to show edges versus body; pattern 1 versus pattern 2; etc. Trust me, they will save your sanity. You'll be able to count back and check to see if you ended your repeat appropriately and it will be easier to spot errors.
When unsure, use a lifeline. You can use unwaxed dental floss (or any yarn that is very fine and smooth) to do this. Just thread a yarn needle and run your lifeline through all the stitches after a row of plain knitting or purling. That way, if you make a mistake you can't fix, your lifeline will let you rip back to a clean row where you can begin again. Keep track of which row you've run your lifeline on. Also, remember to move your lifeline up as you knit. I tend to rethread the lifeline after completing a pattern repeat.
Take notes. Jot everything down in a small notebook. Where you left off. What row you were working. If there were any changes you made to the pattern. Basically, write what is important to you. I usually date my entries so that I know when I did what. For example, if I started a new project on October 1st, my notes would read "10/1/04: cast on 24 with two extra for selvedge. NOTE: selvedge not in pattern. worked ten rows. pick up with right side row." I prefer using a bound notebook as opposed to stickies or loose paper because it allows me to flip back and check what I've done.
If you haven't done this already, run, do not walk, to your nearest copy machine and make a copy of your pattern. Make two copies -- one to mark up and one to refer to when you need a clean copy. Put the original in a safe place. Invest in some of those plastic sleeve protectors while you're at it. Personally, I make four copies of my pattern. I take one and put all the pages in sleeve protectors. I use post it notes to mark my rows. A second, un-sleeved copy, travels along also. The other two copies? "Just in case" copies. Just in case I spill a whole cup of Swiss Almond Copy with milk all over my desk. Just in case my dog decides to eat one of the sleeved ones. You get the picture.
Some of you are going to cringe at this one, but you should learn to read lace charts. Some patterns come with written out directions but it can be difficult to tell what row you are working on at a glance. Charts are usually written in such a way that the chart looks like what the knitting will look like. You can also mark the rows off on a chart, as you complete them, to help you keep track of your progress.
Use Post-It notes to mark your row on a chart by putting one above and below the row you're working. This creates a narrow window and you'll cover up rows that you're not working on and lessen your confusion. You can also cut a piece of paper for this and paper clip it to your pattern.
If you have any other tips to share, let me know and I will add them to this list.