Dunster, you made that cheater cloth look really rich. You can't even tell is was a cheater cloth.
Personally, the cheater cloth/s that I have used in the past, seem not to hold up as well as regular fabric. I'm not sure why, but the color usually fades faster and one that I added my own borders to, the border fabric held up well but the cheater fabric started to shred. Maybe it was just my luck, I don't know.
In any case, I would make it up, with as little fuss as possible and then practice my free motion quilting on it and then give it away to a charity. With my experience, I figure no use putting a lot of time and money into it if it is not going to hold up very well.