To do or not to do? What a thought when coming to finishing a vintage quilt. I sounds like you GM's aunt was a do as you go kind of person so I would finish is in a likewise finish. Put a wider binding on it and call it a day. Enjoy the beauty of the quilt as she intended. It is in our nature to make things perfect but this quilt is not intended to be perfect. You said it right, a utility quilt, to be used everyday, throw on the floor or take to the beach and shake the sand out of kind of quilt. To keep you warm at night and carry to the sofa kind of quilt and sit in front of the fire with quilt. Finish as she would have and then you have a true memory of your family and what you inherited.