The rams smell more strongly, but it's not bad, I like it. Smell of alpaca is somehow worse to me, kinda like wet dog?
One of the class members worked at the zoo and got lots of llama and alpaca wool so I gave her some. She added it to her llama/alpaca to make it easier to spin. Last year a friend mentioned her young daughter wanted to learn to spin so I gave her the last 4 processed fleeces and got it out of my storage unit. Spinning was relaxing when it went well but frustrating at first. Once we learned how to spin, we considered buying a spinning wheel but since I had already decided to make the switch to Dorpers I didn't need one. 
A ram would not be so bad. You could use him on several ewes and once having added his long staple gene to your flock, you could sell him Since it is hard to get genetically long stapled Babydolls in your area he would probably sell for what you paid. If shipped by air as a small lamb he would travel in a dog carrier and shipping should not be terribly expensive.
Raw lanolin does have an odor when processing. Try adding something to the wash water? Vanilla? Rose oil? Lavender? Or would it just smell worse? I gave up processing my fleeces after I felted one! There was a woman who did skirting and processing 3 hours from me, but she has since stopped doing it for others. Only does her own that she sells. We had 5 fleeces of Dorset wool done when we were taking a spinning class. They were much easier for us to spin than the wool the teacher had given us. Probably because they were coarser. Our spinning instructor did do a class on processing since all the others wanted to earn how and I supplied the raw fleeces for free. We dyed it with unsweetened Koolaid. Also some native plants to see different colors produced that way. Interesting. Then we gave up spinning. DH wasn't bad, mine was all lumpy! LOL the teacher and class were kind enough to say it was "craft yarn", and that it was hard to get it like that "after you learn to spin well".
