Sure. Works great. Not a problem with the loft either. The batting is often stored pretty tight in those bags in the first place which is why you have to let it breathe before using it. The space bags only work for about 5-6 months. Then you have to suck all the air out again.
The only difficulty that I have with storing leftovers is that you keep having to open it to see what is inside or you go out and buy more. For this reason, my scraps are now being kept in several boxes on the top shelf of my closet - available for use right away so that I can get them used down.