Hi,
I've lived for 2 years with a cream sofa, and am very happy with it.
I moved into a rented apartment 2 years ago, and since it was not yet furnished by the owner, I asked could he put in very neutral furnishings. Amazingly he put in cream carpets, sofas and curtains!
I found the sofa wears very well. Its a relatively heavy fabric which has a kind-of water-mark, very subtle pattern through it. This means that if a glass of white wine spills, you dont notice any mark.
We wash the covers about every 3 months, and they come up sparkling (even a red wine stain came out completely). Its true as a previous poster said, that they do tend to shrink a bit, but the cushions stretch them out again.
I'd say, if you dont intend it for very heavy usage, go for it!