I'm about one-third of the way through the novel reread. It hasn't been as traumatic as I thought, at least not so far. I'm doing the sentence level stuff as I go, and making notes in brackets where I need to go back in and add actual scenes. And it is nearly always addition -- because I leave too much of the exposition in my head, the normal "your second draft is your first draft minus ten percent" idea completely does not apply to my writing. My later drafts are always longer, even after I cut the stuff that didn't work the first time through.
Since all my felicitous words and thoughts are currently living in a dreamworld, I thought I would tell you about some other people's amazing writing. Two of my wonderful Clarion classmates have recently published stories. E.J. Fischer added to our canon of non-traditional zombie stories with the haunting "Husbandry" over at Strange Horizons. At Everyday Weirdness, there is a marvelous piece of flash fiction, "The Music at Bish Bash Falls," by Sarah Miller. The best way for you to congratulate E.J. and Sarah? Go read their stories.