Oh gosh, so now I have another thread to watch. I am so intrigued by this idea. My sister made a similar quilt for my parents shortly before she died. It has pictures of the 8 of us kids on it with my parents in the center. She printed the pictures on the fabric using her printer. It's been more than 10 years now and it still looks amazing. My parents have had it hanging in their family room all these years and I'm amazed at how the colors have held up.
I say you dive right in ~ get some of the right stuff for printing out your own pictures, cut some squares and break into your new machine. You can do this :)