Normally these sorts of posts get a "people don't realise how much work is involved" sort of response... and it would be a lot of work... but Manx! It's so gorgeous!!
Just to give you an idea, Womble, we are doing a 'Sheep to Shawl' challenge next month, and have worked out that there will be approx. 40 hours' work between the preparation of the fibre, the spinning, knitting and sewing up to make any kind of a shawl.
And that is with fleece that needs hardly any prep, using singles (one strand of spun yarn, whereas generally one would use two plied together) and knitting on large needles to give a lacey effect.
Adding time to wash and dry the fleece (ours is pre-washed), card it (Manx will need carding), and spin twice as much yarn, ply it, wash and full it, then knit, finish and block.. you can probably double the time.
It would be quicker and therefore cheaper to make a hat or a pair of mittens, wristwarmers - something smaller.
Do you know what is the staple length, Womble? The distance from the cut surface to the end of the bleached tip?