IMHO, the pattern for that lovely quilt really doesn't lend itself to be cut up. The pattern is way to big, except for maybe displaying the blocks individually in frames. I think those that suggested that it be displayed on a quilt rack or displayed just for decoration is a really good idea. You could fold it in such a way that only the good blocks show.
Your quilt has 3 generations of quilters behind it and I think that it would be sad to destroy it by cutting it up. But as I said, that is just my opinion.