I have a boiled wool jacket from last year that is soft, thick and stretchy.
I love boiled wool. Boiled wool is not quite as dense and heavy as loden wool, and has a very pleasant micro-knobbly texture to it. Loden wool is sort of felted, and VERY warm because it's so dense.
Tri, if you are not going to wear a sweater over bare skin, then why worry about it being scratchy? I doubt that Smartwool would be selling anything with their name on it that is too scratchy in any case- non-scratchyness is one of the things they crow about.