First off, I wanted to thank everyone for their very helpful input. After reading all the comments, and thinking about it a bit more, I've decided to continue with the sweater. As for my own thoughts, I have to say that I really love the way the cables look. But like Adrienne said, the check pattern on the sides (a simple k2, p2 alternating), seems a bit visually distracting. However, I find that I really like the way that part feels when you touch it, so maybe Baby will like how it feels too. And yes, I agree that the sweater is not quite gender neutral. I'm not knitting it for any baby in particular, so I'll just hang on to it until someone I know has a baby girl.
Man...you know what this means? I'm going to procrastinate on that second toe sock even more!