A beautiful lace technique is to transfer stitches so the transfers are worked a few stitches away from the eyelet they create. This technique combined with more simple eyelets is the basis for many beautiful lace patterns.
Learn to work (and understand) this type of lace transfers on both manual and automatic patterning machines. Translate hand knit stitch pattern diagrams to machine knitting punchcards and electronics.

Here's Part 1