That's probably the best use for it in fact probably what it was intended to be. The only thing that has held me back from binding it and using it for that purpose is that I honestly don't know how many washings those tiny stitches would make it through. But, as I can't come up with a better use I'm beginning to like that idea better.
I have a few double bed size stamped quilt tops waiting to be quilted when I have time that came from the same company. They are such easy quilting that the slow progress doesn't bother me that much. I did a search for historic or Smithsonian Collection stamped quilt tops so that y'all could have a look and get a better idea of what I was talking about, but couldn't find an exact match to the one I have.
My mother said that the reason she has several on hand is because when she ordered her last one, they told her they were not going to carry them any longer. I found some similar at The Stencil Company under the preprinted wall hanging and crib quilt section, but the edges of the ones they have are more elaborate than mine.