I guess it depends on how much it will be washed and how long you're expecting it to last. My mom made a fleece blanket with satin binding for my niece when she was a baby, she's now 15 and the binding has started to shred. No biggie; she's outgrown it and mom has made her another quilt, and it DID get regular washings.
Having said that, I will also point out that a flannel quilt I made for my son is doing the same thing. It took a lot of abuse and washings (especially during those potty-training years), and the flannel binding is wearing thin, especially in the corners. Fortunately I kept the excess fabric and can simply re-bind it.