As I may or may not have mentioned, I have a lot of first drafts lying around, and some stories existing in various stages of middle drafts. One of the things I end up struggling with is how much time to dedicate to combing through the work I've already done and seeing what I can shepherd to a state of completeness, weighed against using that time to produce something new.
The things I've already got to first draft form are by definition closer to completion, but they're also not as good as the first drafts I can write now, having hopefully learned from my previous drafts and edits. I've also apparently got a bit of rose colored nostalgia about the quality of some of the things I'd previously written. I've already trunked and abandoned one story that I looked back on as a favorite.
I know I should be polishing more of my backlog to submission quality, but I also feel like there's a basic psychological nourishment that comes from taking on and finishing a new project. Then again, I'm one of those people who loves the blank canvas and the first draft phase. I've known others who live for the polishing.
How do you folks out there on the internet handle your polishing/new project allotments?