I have made numerous baby quilts with flanellette. I always wash first. I also use satin ribbon to bind them, because as armaynes noted, babies like the different textures. I have not had to, (yet), re-bind one, but since the ribbon doesn't involve any hand sewing, I wouldn't hesitate to rebind if needed. I think it would take a lot of washings before it would get to that point.
Patti