One reason you want to avoid stretching on the bias is that stretch does go "back" eventually, often when you are quilting it, especially if done on a long arm, and it gets your quilt off kilter and can cause problems like wavy borders or puckery blocks. With HST it will bow the diagonal line sometimes too.
Have I done it? You bet! But one thing I finally figured out was I was actually shrinking my block units when pressing with steam--I'm having much better luck with using homemade Best Press (I had the aha moment about the 4th time I used starch and lots of steam to deal with a wavy border on the long arm). And I try to remember to use actual heavier starch on yardage that I know is going to get cut along the bias--it stops the stretch and also reduces the fray.
When I have a block that is "short" I will pin the side that is short when I'm squaring up and then make sure when sewing blocks together will do a "short" seam allowance on that block as long as I have at least 1/8"--will double sew it to keep it from pulling loose. That usually works without losing too much of the matching points. Although I have one quilt called "We don't need no stinkin' points!" John Wayne fans will get that reference!