I've worked with linen in garments, but not quilts. I'd imagine if you quilt it relatively densely (like 1 1/5"-2" ), it wouldn't wrinkle too badly. Linen has a nice rumply texture after tumble drying; it's when it gets folded or creased that it gets badly wrinkled. As long as it doesn't get folded up on a shelf, it should retain a nice texture. Bear in mind it doesn't shrink like cotton, so pre-shrink any cottons that will be mixed in with it.
Linen is a beautiful background for embroidery, so I think you've got a good idea! Make sure you show us when you're done. ;)