I admit that I am too cheap to have every considered buying it ourselves, but we were gifted a king from his parents when we got married, and I love it so much, and often say how grateful I am for it, two years later.
Granted, our old queen set was OLD. So the bigger problem was probably mattress quality (that whole rolling in towards the middle thing definitely makes the bed feel smaller than it is!) rather than size.
As it is now, we use two full sized pillows, mine up against the edge of the bed, and his up against mine - so basically almost a third of the bed is mostly unused. We aren't cuddlers (at least not all night) but we sleep within reach of each other :). Sometimes I even have to tell him to shove over, as he'll trap me on the edge of the bed, even though he's got tonnes of room on the other side.
The times it has been nice to have the extra room are the (fairly infrequent) occasions when the hubs suffers from bad night sweats, and so he's able to roll over to find some dry sheets. And that's about it.
So my conclusion is that I would probably go for a good quality queen bed, if I was looking to purchase one. Also, I seriously can't believe people actually share blankets?! We have a collection of at least 5 different blankets on our bed at a time, so we each have a good selection. We are both duvet hogs!