Niiiiiiiice!!
You'll never regret it ... and will soon want to fill up that blank wall to the right with another design wall.
Tartan ... you can buy a flannelette fabric with the grid on it. I believe it's 2" squares. When I took the OBW course, the LQS had design walls for everyone, and it was a real treat to work with the grid. If I didn't have my wall already installed, that'd be what I'd use.