It would help to see a pic. But, in general, a binding is a frame, and should carry some "weight" around the quilt, so I would shy away from delicate lace edging. Most frames look best if they are darker than the item being framed, so if it is a jewel toned quilt, I would shy away from white/light muslin. Having said that, with the choices you have given, I would put a muslin binding on it and add weight and color with all kinds of hand embroidery and beads on the binding and maybe even a tiny inner boarder of lace edging pointing inward from the binding to the quilt. Hope this helps.