I often do that if I've got a top that I don't like. I've cut the offending top into strips and inserted strips from other quilts in between the cut apart strips- which made an art quilt that is one of my favorites now. I've also cut tops into random squares and rectangles and then used those in other quilts. I do it so often that I now consider it part of my design process
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I say, Go for it!
Rob