Lining a Stocking

Tell me: Am I a complete fool to want to add a lining to my Fair Isle stockings? I've Googled and Googled, and I've yet to find mention of anyone lining a knitted stocking. As a further complication, this is my first time sewing anything, and it's by hand as well. Thankfully my aunt helped pick out the material (strong and substantial and slightly stretchy), but I'm on my own from there. Using HelloKnitty's instructions for lining a felted purse [pdf] as a rough guide, I'm almost ready to attach the first, but I'm worried that I made it too big. The top fits nice and snuggly, but I left about a half-inch extra fabric in the leg section so it could stretch to hold the goodies. At the time it seemed a good idea since the lining material isn't as stretchy as the knit exterior, but now that I've pinned it in to check the fit, it makes the stocking look a little sloppy. Then again, maybe I got overly attached to the neat, flat post-blocking look. Lastly, should I anchor down the lining at the toe or heel or just let it hang from top?

Thanks in advance for any help. These stockings have to be mailed to Georgia, so I'd like them done ASAP.

--Manda