Today, I have the photos of the finished bucket bag, as well as the measurements. In my opinion, it shrunk too much. It went from 14 inches tall, or more, down to only 6 inches after felting! The bottom crocheted circle was 14 inches across, and is now 9 inches.
For comparison, the black bucket bag started out about the same size as the purple one, before felting. Yet, after felting, look at the difference:
I would say that it's because of the brands of wool I used: for the black I'd used Patons, and the purple, Malabrigo. My advice would be to use Patons or Lion Brand wool, simply because of the expense of Malabrigo. However, if you have lots of Malabrigo that you're not emotionally attached to, in your stash, you can use it, just make it even bigger to get a good size finished bag. Make the crocheted circle bottom up to six rounds bigger, and then add six or more inches of knitting in the round to the body of the bag.
One of these days I will make this bag again, probably using Patons, and make it even bigger so you can compare them.