My quilt group was crazy enough to take the stitching out of a store bought printed quilt and then added a border and hand quilted the whole thing for our annual Christmas drawing. The fabric was really hard to quilt on and I don't think it looked all that special when it was done. If it were up to me I would have started from scratch with a new top. But for your purposes it would be a waste not to redo it if you put all that work into it and aren't happy with it.