i LOVE quilters Dream batting!
it is a dream to use- they put out a number of different batts though=
they have dream cotton, dream poly, dream wool (my favorite) dream green - a recycled batting that is green- is like using a sheet of fleece for a batt-
dream orient- which is a silk/bamboo blend.
it all depends on the quilting you do-
as for the loft (thickness) i would certainly go for the 1/8"===1/16" seems so....nothing there- might be good for clothing- things you don't want to feel like it has batting-
but that may be a good choice if you are hand quilting- also- you need to check on the quilting recommendations- for the batt you are considering- some batts need to be quilted every 2" (which is a very dense quilting) where some allows up to 10" between quilting lines- which gives you much more options when choosing quilting designs.
so you need to find out the fiber content- the quilting recommendations- and the recommendations for usage of the batting before investing in a whole bolt of batting.