So sorry of the change in your life, best wishes and you are very lucky to have such a good friend.
I think the first quilt looks nice as it, and a binding is how I would finish it off. Granted that might give it more of a modern look. But the boldness of it is what I like and to me borders would take away from that. Right now I see the design as endless maybe like the friendship you have with her.
As for the bow tie, I love it, that is one of my favorite patterns. Great colors.
The best to you.