I think the baby quilt shows a 'welcome' to the new baby; built with love in every seam. A wall hanging might be nice as well, since most parents use a 'theme' nursery now. A quilt can cover the baby on its outings...sit the baby on the quilt to take pictures...and use another in case of 'accidents' by the baby...so several quilts do not seem excessive to me.
Daughter did tell me she had enough quilts, so I quit making her any more until she asks me for more. Son is delighted when I make him more. I also make a few for friends putting lighter weight batting (or none) in the ones going South and warmer in the ones staying up North.