Dear CMinor
I am a newer quilter as well and I'm afraid I disagree with everyone - you sound as though you really love the look and idea of this quilt - although all the other comments about reminders of how you started, etc, are fine, I think you will be so excited with the chance to "start over" with the design and fabric you obviously love. Maybe you can turn on a movie or two or be a passenger on a long car ride and just rip those seams out mindlessly. The time will go by and then you'll feel renewed with the opportunity to do it the way you want to! You can even replace that stained white strip :)
It's an investment, but you'll love it even more when you get it done
Have fun -