I don't actually know your definition of "good fabric," but I wouldn't start with real expensive fabric. It is too easy to cut a piece wrong or not make good 1/4 inch seams when you first start, or at least it was that way with me. I have been quilting a little over 2 years, and I buy most of my fabric at Wal-Mart, Hobby Lobby, or Hancock's. There are two quilt stores in town, but I just can't pay that much for their fabric. My quilts turn out good, and yours will too. The decision is really yours though. I would never advise a beginner to use expensive fabric.
Dina