Here is washed lock from the fleece:
And here is some of the washed fleece:
I spun a small amount up into some laceweight yarn and knitted a small swatch of lace. I suspected that a Border Leicester lace yarn would have very good stitch definition, and it does:
I'm not sure if you can see the bit of luster in the yarn in this picture, the lighting came out funky, but I think you can see it on the lace in the background (click on the pic to see it larger):
So I think I will definitely use a portion of my Border Leicester fleece to make laceweight yarn. I'll have to think about if and how to dye it.