Well if you are still tempted, the Surviving the Store blog here is reporting on this today. A ton of women are saying they've done this and it works.
I really think if you need to rinse and reuse often enough it's worth looking into non disposable swim diapers. Eventually these disposable ones are going to disintegrate. Plenty of places to find them on the Internet (this site lists tons of resources).
Bambino Mountain also sells some cute ones here. For the price of 1 pair of non disposable ones you could last the entire summer.