it depends on what width will balance. A 2" sounds about right for me

And yes, a walking foot will give you better results.

do you have a pic of the top so far? I would also go with a 2" finished inner boarder and then a 4 1/2" finished outer boarder. but it really does depend on that the top actually looks like. let it speak to you and go with your gut.

IMO I would use a 1-1.5 inch border. I find that a narrower border will set off the design of the quilt better.

Walking foot definitely. You will not be happy with regular foot as it will push the top fabric. You will get puckers. It is well worth investment to get a good walking foot. Generic can work just as well as long as it "walks".

just make sure that the walking foot also doesn't cut the fabric like a serger. I had one given to me and it was actually a presser foot that would cut the fabric as it sewed. and I couldn't do anything with it other than a zig zag stitch.

I'm about to quilt my first wall hanging, so this is a good thread for me, too. So the areas where I'm going to stitch in the ditch, I need to definitely use my walking foot, then for the free motion stuff, just go back to the free motion foot? I have a clear foot to use for that.For stitching in the ditch, should I still start in the center and work out?

I cut my 'frame' at 1 1/2 inches so it ends up one inch. The five inch for the outer sounds good.

I always work from the center out. I just got a walking foot and darning foot(FMQ foot). With stitching in the ditch it just depends on the pattern. But yes starting in the "center" is always a good idea. It just depends on the pattern. if it is something like squares and you are just going lines in a cross hatch pattern then I would pick a side and start in the middle of the quilt on that side and go from there. if there is blocks in involved I would stitch the center block down and go from there. but it just depends on what the top looks like. hope this is clear as mud for you.

I wish I could sit in a room with all of you! :)

It depends on the look you want. Just remember their is NO QUILT POLICE. So just have fun with it.

I would probably go with an inch finished (cut 1 1/2") or an inch and a half finished (cut 2") Then probably a 4" - 6" outer border.