So far, looks like #2 is in the lead and I'm good with that.
I've used a variety of fabrics before for baby quilts and they've all held up nicely so long as I was sure I've done the pre-shrinking.
I'm certain the back will be the minky. I'm certain cotton will comprise most of the top. Flannel some of the top. Chenille is a PITA to work with but I feel strongly about the tactile "fun" of a quilt also so... I may end up testing a few thoughts rattling in my brain.
I'll be sure to post pics when I'm done but for now, please keep the comments coming. I appreciate them all and it's great to help me be sure I've considered everything (like the possibility of having issue squaring those log cabins.)