I decided to actually try using cloth pads this month after reading this thread. (I was especially intrigued by the idea of shorter period!) Well, to be honest, I didn't actually use cloth pads, I used these:
http://wp.me/p15y6n-22 
I just folded in 3rds or 4ths, and place in my panties. And it's super easy to make more absorbent - fold two together! To make longer, fold 'em together overlapped. I discovered (for me at least) for overnight it works best to not overlap, but to put one in place as normal, and fold another in half and put that at the rear half. I didn't have a problem with soaking through - any leakage was from not being long enough.
And I never would've thought to use with the "boyshorts" type panties, but that actually does work better at helping to hold 'em in place! I figured the looser sides would make things worse, especially since they don't work well with store bought pads. Am wondering for those of you who commented on having issues with keeping the pads in place - would you describe yourself as more thin, or "fluffy"? I'm definitely on the fluffy side, and don't have a problem with these moving around; just a thought I had if the extra "fluff" helps hold 'em in place.
Also (since we're already sharing TMI), I HATE using store bought pads, and much prefer tampons because I hate the icky mess left on me. With my cloth pads, there was almost no mess on me

I'm contemplating crocheting some tampons (there's a link to a pattern in the comments of the above posted website), but not having an applicator is definitely a stumbling block....
Now, for the best part - my periods have been lasting a total of about a week and 1/2. Very slow start, would just use panty liners for 4-5 days, the 2-3 days of very heavy (you know it's bad when you have to back up a super de-duper tampon with an overnight pad just to make sure you don't leak), than another 2-3 days of very slow. This cycle, I've had one day of slow, 2 days of heavy, and am on a slow day again. I'm hoping by tomorrow to be done - that would be 1/2 the time!
So if you're hesitating to jump on this bandwagon, my advice is - just do it!