I love your great start on you re-organization. Nice work. I personally know you will love the results of your labor. There is something to be said for knowing what is in there and having it ready to go when the inspiration hits you.
To answer your question, yes I did this in last summer when I moved from one room to another. I washed ironed yards of fabric, refolded them to fit my new shelving and drawers. It took three months of diligent working to get it all finished. It was hard, because I kept wanting to sew and play instead of organizing it. To tell the truth... there is one bin that is still in need of ironing. But I know where it is and what is in it. I just got under the gun for a deadline and had to stop for a while.
This is the finished product back then. But, there are overhead cabinetry above my machine now that has a light attached to it underneath to help with my sewing. (A christmas present from hubby.)
http://www.quiltingboard.com/t-61710-1.htm