That little DRY CLEAN ONLY label is a hoax. Not everything needs to be dry-cleaned. Case in point, my black Splendid brand, long sweater. Its label reads "Dry Clean Only" and says that its 18% wool, 23% polyamide, 50% rayon and 9% spandex. I put that sucker in the washing machine and line dried it. It's fine. Plus, it smells way better than that chemical smell most dry-cleaned items come back with...you know the smell.
Now, I won't take that risk with all DCO items. But I'll give it shot with some. It's such a pain to have to go to the cleaners for everything. And it adds up money wise. Just ask my sister, she lives in NYC and abhors the dry cleaner--what a racket they've got going in that city. So her motto is to try to buy as many non dry clean pieces as she can. Seems to be working pretty well for her, so far.
Things one should take the cleaners and not put in the washing machine: the pink shawl/poncho number (with tassels, thank you very much) that I (sadly) bought years ago. The washing machine shrunk that right up, which was probably a good thing fashion wise. Anyway, the point is, you win some you lose some.