Having been a living history reenactor or historical trekker (in the spirit of experimental archeology) for decades, I have learned a few things about wool blankets over the years that has proved valuable. When we are not participating on the reasonably safe wintertime rendezvous (we use tent stoves and plenty of blankets), I (we) am often running a Colonial Longhunter wilderness style trek (single or double blanket) in sometimes below freezing temperatures. The blanket really becomes a part of your survival gear at that point, ensuring a good nights sleep with complete protection from the elements. We do not trust our comfort and health to cheap blankets because they simply don't work well enough.
All of our blankets are 100% new wool and are soft. I have many blankets made by Hudson's Bay, Early's Witney Point (founded in the 17th Century in England), and my favorite blankets are hand-woven by C.J. Wilde
http://wildeweavery.com/Default.htm. These blankets can be "fulled" (another subject) for extra warmth, they can be purchased very large (I use a 5-point size), they are extremely warm (cheap blankets can't compare). My blankets made by C.J. Wilde are as soft and warm as it gets. Not inexpensive, but worth every nickel if you enjoy warmth and comfort.
The reprocessed wool blankets, mixed wool/synthetics are fine for cutting up for crafts, emergency blankets in the car, picnics, a blanket to keep the chill off, etc., but the difference between one of those blankets and a *quality* 100% new wool blanket is literally day and night. I, too, have a pile of the military style blankets (some are all wool), but I don't sleep under those things in the environment in which we live. In warmer climates they might have a use.
We don't trust our wool blankets to the dry cleaners. I don't know of any quality blanket owner who does. Our blankets are * very gently* soaked and washed in the bathtub with either Woolite, a Nikwax product, or another liquid soap product that I get from a blanket maker. The blankets are then spun in the wash machine to remove excess water, blocked to dry (to keep its shape), and then fulled or double fulled. The results are superior to any other cleaning method and present no harm to the wool (unlike dry cleaners).
Like most everything else, you get what you pay for in blankets. If your comfort and safety are important to you, purchase the very best blanket you can afford. Cutting corners to save a few dollars here always brings about a regretful experience. I have been on FAR too many outings listening to folks complain in the middle of the night about the fact that they should have invested in a better blanket or sleeping bag.