Clearwater, If you mean the blanket secured by a simple belt in earlier centuries a full should be enough.

when i think "Canada-blankets" i always think about trappers at 40 below-but i've been north into the canoe country i also know it can be really hot-not just warm but hot..the two blanket idea would be a better idea for year round use as it can get cold and nasty in the summer a week after it so hot you can't walk the carrys-

Of course any reader of PEANUTS knows Linus can do more with a blanket than all the survival gurus and their signature knives put together

What is the biggest bang for my buck for a couple wool blankets to throw in the car for emergencies? I am assuming a surplus blanket for this, but all the surplus blankets I have looked at smell bad.

What is my biggest bang for the buck for a wool blanket to sleep in overnight in the woods. I would be expecting temps between 45 to 55 degrees?

I don't know about bang:buck, but the blankets for car/emergencies at Emergency Essentials are $14 ea plus min shipping, and don't smell.
http://beprepared.com/product.asp_Q_pn_E_CW%20B100_A_name_E_Wool%20Blend%20Blanket

www.majorsurplus.com

There's been some caveat emptor warnings on the main ETS site about these folks. They had a 5-pack of wool blankets a few years ago for $50 or so. I have 2 in my car, 1 in the girlfriend's (she has another already) and 2 in my BOB.

yeah, they smell. Some folks swear by fluffing them in the dryer with multiple dryer sheets. I just hung them outside for a few days.