Have I bitten off more than I can chew?

[WendyI]

ok..following are pics of a pattern I have chosen. This will be my second quilt. Although I am more of a mono-chromatic quilt type person, this is a very "scrappy" type quilt. I don't think it looks very complex but i'm not sure. have I bitten off more than I can chew?

Here is a pic of the quilt completed and a diagram as posted in the magazine:





It calls for 28 fat quarters of differing fabrics (I'll post a pic of that later) but my local fabric place only sells in yards (not fat quarters) so I have two fat quarters of each colour basically.

The materials are as follows (I hope they don't post upside down...I took these with my phone):



Is this too much for a totally self-taught newbie? How do I even start...I mean they weren't specific on the materials...so do I basically cut up what I think will look good together?? I like most of the fabric I bought but some I don't love...I mean it's okay but I needed it for the colour more than the print. I also have a feeling that it's mostly "old" fabric designs. The lady at Lens (the shop) said they were about to "mark down the 2006's"...I couldn't get her to quite explain what that meant.