I tried to do the wave edging you all suggested. I finally ordered the second Walker treasury (which I'd been meaning to do for a while anyway). But it got all wonky, with the circle and all, and I made a mess with my little experiment to connect it to the blanket. I finally caved and went for the easy and added a ruffle to the pinwheel blanket.
But I'm...undecided. Ben says it's cute and fine. I sometimes peek and I'm fond of it. Other times, I'm, like...what was I thinking? It's so...ruffly.
I have yet to weave in the ends. I haven't committed myself to keeping or to ripping. I am in knitting limbo. I haven't washed it either, but it's cotton, so it won't do any tricks with a bath.
I included an uncooperative cat in this photo, for scale.
And another, sans cat and blur, so you can actually see the blanket.
Keep in mind that the edge is somewhere in the neighborhood of 1,000 stitches around. My elbow twinges when I think about it.
Please take a good look and vote your honest opinion below. I'll decide tomorrow what to do, based on your inclinations.