From my experience, here is one thing to consider. If you think the quilt will get washed often, save some extra yardage in case you need to replace the binding. Years ago, I made a flannel quilt with flannel binding for my youngest son, who was still having bathroom accidents at night. That quilt was washed at least once a week for 3-4 years until we figured out the source of his problem. The binding has worn through the corners and some of the edges; I will have to replace it soon.
Other than that minor issue, I say go for it!