I've made them using that pattern, and it works well. I must admit, though, as a reenactor I prefer the footless version:



If you're at a really wet and muddy event, you have to change socks numerous times during the course of a weekend. Now, you can sew up a number of pairs of footed hose, which is expensive in terms of fabric and invested time, or one pair of footless hose... and just keep changing your under socks!