It came out okay, but it didn't shrink as much as I would have liked. I made the straps (which are 100% wool) longer because I was afraid they would shrink quite a bit. They did some, but not much.
Now I have a very large felted tote bag. I love the colors, but wish the straps were a little shorter.
Either way, it turned out fairly well. I need to practice this type of crochet a little more.
You live and learn right?