I found the idea for the heart wreath at The Idea Room. My wreath was about 12" from top to bottom and I purchased 3/4 of a year of felt and had more than enough I didn't count the circles either but think it was somewhere around 80. I also took a long strip of the felt and wrapped the white foam wreath. I put it together and if you weren't looking at it straight on you could see the white. I took it apart and wrapped it and put it back together again. It probably only took a couple of hours total, not too bad.
The pictures really aren't very good, I had been having problems with my camera and never knew how they were going to turn out! That's not a good thing so I've since then purchased a new one.