Love wool. Love the Merino underlayers, which I have down to thin layers. I wear them all the time. Only time I don't like wearing wool is if I'm working with nasty stuff around the farm that is prone to rip, splatter, soil, stain, get paint on or otherwise screw up my clothes. Then I wear tough cotton based work clothes.
If it is really raining then I like something else over the wool. I don;t like being totally soaked in wool clothing...
Like someone else mentioned, I would love to find a pair of wool pants with cargo pockets etc that are a little lighter weight. My current ones are far too warm for a lot of the weather I see.