Should I quit my undergraduate project? I am doing an undergraduate project on matrix analysis which mostly involves functional analysis(but not a lot of heavy machinery) but I realize I don't really like the area very much and my work isn't particularly non-trivial. I have an excellent and patient guide.The alternative is that I can instead read a bunch of graduate texts in analysis over the next year. 
Here are the pros and cons of quitting the project I could come up with:

Pros:
1. If I quit, I will be reading some graduate texts. 
2. I will be reading something I like.

Cons:
1. I will lose out on valuable research experience. I am concerned that the lack of it will render my applications to graduate schools in the US rather ordinary. 2. I have an excellent relationship with my guide.I am a little concerned she might be disappointed with the switch. 
(I can't work under someone else for various reasons.)
Any help is appreciated. Thank you.
Well, I believe you should not quit your research right now.
In my opinion what you said about your research situation was very good. You should know that the purpose of B.Sc. project and research is to get familiar with research world and to do something real in the Correct Way. 

I think a helpful, devoting professor is like a gold in these situations. She can help you throw your bright future. It does not mean you should stick to this field for the rest of your life! Take it as a start for your future more professional research experiences. 

Also, you can talk to her about different fields which you like. She may find you a combined nice problem to work on.