We have a few FS books, and IME they are not read, with the exception of A Christmas Carol, which Mr D reads every winter. I think that was an incentive gift when I bought something else, but I put in his stocking one Christmas and he loved it. It's small and not as fancy as the others.
We have the complete works of Shakespeare, some fairy tales (Grimm, again the complete works in several volumes) and others I've forgotten. They are all large books with lovely bindings and leather trim, come in cardboard slip cases, and look nice on the shelf; but they are heavy and not something someone would snuggle up with on the sofa for an afternoon of reading - we both use paperbacks for that.
As a keepsake (eg a christening present) something like Peter Pan might be nice, but I wouldn't expect it to be a firm favourite, as most people probably wouldn't let a child rad it themselves.
Someone bought my daughter a set of Beatrix Potter books when she was born. They are more adult than board books, but small and beautifully illustrated, and we read them to her then put them on a shelf she couldn't reach. They weren't in perfect condition when she left home, but she still has them and they are definitely readable - I think a couple of the dust jackets got a bit torn/dog eared, but that was all. Maybe something like that might be better?