I really like it and I would go with your second layout. You know, we probably all have quilts that we are not totally attached to, there are many different places that you can donate quilts. Let's keep our quilts out of UFO boxes and put them into the hands of someone that would be thrilled and comforted by your efforts.
I have made quilts for Project Linus, Ronald Mcdonald house, Guardians Adlitum and a nursing home that my daughter works for. you can find many places to donate right in your own community too. Just a thought.