Give him the quilt. Christmas is not about presents, who gets what, have we given each other an "equal" value in gifts? I celebrate the birth of Christ, and that is my main reason for celebrating Christmas. When my husband asks me what I want for Christmas, I tell him: "Make me a memory." It can be as simple as a dinner he cooks, a rented movie, a cozy evening to ourselves with the phone off the hook --- he's so busy, we have few of those, so we cherish them. Or it can be a dressed up evening out to our favorite restaurant. Or we could spend the day at the new, free art show coming to town (that he knows I'll love), and include a lovely lunch. It doesn't have to be a lot, and perhaps that needs to be conveyed as well. What can he do to make you happy, give you a nice day, a nice memory? Things will go by the wayside, except for quilts which last forever! But memories are special because they are yours forever, to relive and savor. I'll take a memory any day over a new perfume, or some other item I likely don't need (since my husband doesn't quilt!) Just go for the love and spirit of Christmas, never mind keeping score on presents, and do what your heart tells you to do. If you love your husband, give him the quilt. He'll love you for it, I know.
I've said my piece. I hope you have a lovely Christmas!