I thought the whole point of buying pre-cuts was avoid too much cutting - If I want 5" squares I buy charms rather than slice up a layer cake.
Having said that, I'm rather fond of HST or hourglass blocks and love the scrappy look of these collections of fabrics rather than a limited palette or number of fabrics and a formal repeat design.
This was the first quilt I made with a layercake (+ JR) and its still my favourite.
These two quilts also use a layer cake + yardage and/or Jelly Roll)

This one uses a layer cake cut in half - one half makes the border and semi circles are cut from the other and appliqued on (+JR)

In this one the Layer Cake has again been cut in half and yardage used for the small squares