What a darling quilt!! Well, I AM a grandma (and love every minute of it!) and what I've done is given the quilt and added the label later. With the first grandchild, I planned to make a pink quilt and a blue quilt so I was ready for either (as they were not planning to find out the sex ahead of time). I got the blue one done and then my daughter said she'd really prefer a yellow-green one. Another daughter also wanted a yellow-green one the first time around and then asked if I'd make both so the second child would have a pink or blue one. Anyway, I brought the blue one to the hospital and added the label a couple of weeks later.
You could do the same with the book. Some parents "read" to the baby even before it's born.