Nancy replied to a question with her answers on this subject - here is my own evolving answer. What do you think?
Stash Quilt - A quilt made from fabrics on hand. For me this is usually a limited number of fabrics quilt. For example, I have a selection of 4 purples - gradiated from light to dark - that will become a quilt. Since those 4 purples have been in my posession for a few years, they are part of my stash. Since it is only 4 fabrics it is not scrappy. A lot of my quilt are stash quilts & scrappy... I don't gravitate to the limited number of fabrics quilts. (Although I/you could go to the store buy 3 fabrics and run home & make a quilt with those fabrics. It wouldn't be a stash quilt, but it would have a limited number of fabrics...) My personal stash can not handle the limited number of fabrics quilt patterns, because I tend to buy 1/2 yards or fat quarters, because I love the variety. In my quilts, I would rather use a dozen darks, instead of just one.
Scrap Quilt - I guess technically a scrap is the left-overs from one project kept to be used in another project... O.K. I have done that. I have projects planned using that theory, but I also am free to cut a piece from this fabric and that fabric and make a scrap quilt... I wish I knew the "number" of fabrics that is takes for a quilt (stash or otherwise) to become a scrappy quilt, because evertime I think about it, the main difference for me is that a scrap quilt has more fabrics in it than a stash quilt. My green zipper quilt is a scrappy quilt, but all of those fabrics excluding the border came from my stash. (blushing in embarrassment - but I did inherit a few.) The star quilt that you also see in that post is also scrappy & aside form the background was also from my stash. On the other hand, "Violet Crumble" is scrappy but only 1/2 stash. I bought a few fat quarters before looking to see what I had on hand - which is my NUMBER 1 reason for joining the fabric depression.
Quilt Pixie is also chatting... here is my take on the Fabric Depression of August 2006. This depression for me is not so much as blue period as it is reminiscent of a time in our collective past when most people were not able to run to several quilt shops to buy fabric willy nilly. In my family, we have a qult that my great-grandmother made either during or just prior to the other "great depression." My grandmother can pick out fabrics that she remembers being in her clothes. (These scraps were most likely leftovers, not recycled form the actual outfit.) My great grand-mother may have purchased the muslin background, but it is doubt ful that she purchsed any of the other bits... I am participating in honor/remembrance of that history.
Not to mention that I have "enough" fabric...
I could say more, but I would end up going in circles... (note the parenthetical aside typed in brown above.)