I use to cross stitch, and it was most relaxing- not to mention beautiful!
But unless you have used small stitches, I would not recommend a quilt. Not unless you keep it for yourself. Many people don't think twice about the care of a quilt, ie. washing in hot water and it shrinking and even fading. In the case of cross stitch, you have to think of the type of thread that is used and will it hold up to numerous washings? That's why I believe it would be better for a wall hanging, or even a picture.
Stephanie