I love the idea of an heirloom quilt but for me it depends on if there is an heir that would want it. I don't think anyone in my family would appreciate my quilts like I do. My mother does but I've already made her a couple of her own that are "her."
I do have one that has a lot of appliqued blocks as well as pieced and a very detailed applique border around it where I used 1 1/2" squares as sashing, each hand placed not as strip pieced and cut into the same segments. I completely hand quilted it and have used it on my queen size bed. Took me 5 years to complete for various reasons. Anyway I did consider it an heirloom until I washed it and one of the fabrics bled and I cannot remove the excess dye from it (which is heartbreaking). My only option is to take it apart, applique a new border and replace that whole border section which is way too much work. So it stays as is. I don't feel like it's worthy of an heirloom title anymore but I do still love it for it's beauty and all the hand work in it.