Wow! That is beautiful! I don't think it looks baby quilty at all! I love the fabric with the circles, it reminds me of a peacock's fan! I quite like the grey with it, my usual choice is black or grey so I might be a bit biased! Whatever you do it will be fantastic!
I'm afraid I don't know anything about vintage machines so can't help you there! And regarding batting, I also don't know about the 80/20. I always use cotton/bamboo 50/50 because I liked it so I bought a whole bolt of it!