I think I would try rewetting it and blocking it like you would a sweater.. pin it out carefully on your living room carpet with big T-pins, and let it stay there until it's dry.. I think it would be fine.. I can see (and tell) you are disappointed, but I think you should still give it to her.. Even if it's sort of puckered and wrinkled, it is a beautiful quilt... Blocking works wonders... It can't hurt and may sooth your discouragement.
I block quilts that are going to a show to make sure the sides are straight and hang down perfectly.. A nationally known quilt judge told us about how to do it.. and boy oh boy does it make a difference.