Oh I never thought in terms of elegant!! Thanks Evie. I am far from being an elegant person, more of a down to earth modern peasant! HaHa. Yes putting on point does give elegance to a quilt, as well. I wonder if it's because set on the square the block looks solid and stable like walking in a good pair of lace up shoes, whereas on point it's like tripping around in high heels. And I haven't thought that far as to putting the quilt together!
As fabric here is around $9-$12 a yard, the $8 yardage is equivalent to around $5 or 6 here. First and foremost, did you like it? Check the hand and drape of it--do you like the feel of it? You've handled enough fabric to know if it's good quality so make your decision from there.