I'm obsessively revising one of my books right now.
I'm not exactly sure which draft I'm on, but I'm definitely approaching "almost ready to submit somewhere" status. I need to work on a query letter and probably a synopsis. Oh, synopsis. How I loathe thee.
I'm by no means a great query letter writer, but I feel a lot more comfortable with queries than I do synopses. At the Midwest Writers Workshop a few years ago, I sat in on a brief workshop in which an agent described the synopsis as evil. I think the program may have been called "The Dreaded Synopsis." Pretty much everyone hates these things.
Anyhow, I took a draft of my current book and added about 7,000 words to it. After reading through it again, I think the changes work. I just need to go through and eliminate some repetitive words and smooth out a few things. That's what I'm working on right now...taking care of about 160 little notations I made on my Kindle.