I have the CD version of the OED. While it is indeed costly, it is certainly easy to use and very comprehensive.
I've compiled a sort of dictionary of fantasy diction, the "fancy words" and so on, making dictionary-style entries with etymologies and definitions, and a generous helping of quotations from fantasy and other authors using the words. I have over 600,000 words worth of material all together. It includes many original scholarly discoveries.
I intend to extract material from this project to create a number of books; I could currently make at least two. One would be simply a sort of dictionary of fantasy diction, just giving the dictionary entries and only a small selection of quotations, to make a handy reference volume.
Another that I could create now would be titled _Weird Words: A Lovecraftian Lexicon_. It would be a large volume including many quotations, not just from Lovecraft but from other authors as well. In particular, I've gone over Clark Ashton Smith's work very thoroughly. Use of a word by CAS makes it "Lovecraftian" enough to justify inclusion.
While I do have a publisher willing to put out these volumes, they have taken on so many projects that it will be at least 2010 before they can put one out.
If there's any particular word that you're interested in, just ask and I'll post what I have on it.
Dan Clore
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"Tho-ag in Zhi-gyu slept seven Khorlo. Zodmanas zhiba. All Nyug bosom. Konch-hog not; Thyan-Kam not; Lha-Chohan not; Tenbrel Chugnyi not; Dharmakaya ceased; Tgenchang not become; Barnang and Ssa in Ngovonyidj; alone Tho-og Yinsin in night of Sun-chan and Yong-grub (Parinishpanna), &c., &c.,"
-- The Book of Dzyan.