If you are fastidious about the proper math formating (fonts and spacings), try this:

Print[Framed[ DisplayForm@ FormBox[RowBox[{"v", "=", NumberForm[Quantity[10.38, ("Meters")/("Seconds")], 2]}], TraditionalForm]]]

I found out about FormBox by hitting the menu Cell > Show Expression.

Did you miss the part "Also Text is not needed though to my eye it is useful for formatting"? It's there for a reason..

Thanks. Your solution is almost perfect, except by the lost of the output format.

Use the following instead:

Print[Framed[
  Row[{"v = ", 
    NumberForm[Quantity[10.38, ("Meters")/("Seconds")], 2]}]]]

The issue you were having was because "v=" NumberForm[...] means Times["v=",NumberForm[...]] and so the syntax form of the underlying quantity was taking over, because a string times a quantity doesn't evaluate. Another example of this would be:

"v=" RawBoxes@InterpretationBox[10, 10, SyntaxForm -> Mod]

Framed[
 Text[Row[{"v = " , NumberForm[10.38, {4, 2}], " meters/second"}]]]