Is it a woven polyester imitation suede? I've seen knit too, but I used the woven kind once to make an A-line skirt - pretty nice to work with all in all. I washed it on cold - I can't remember if I'm supposed to put it in the dryer or not. I don't usually put things I've made in the dryer anyway, since I'm a bit afraid they'll self-destruct.

I pressed it with an iron on the "synthetic" setting, but it really did not press well. It just did not want to hold a crease - I had to hold the hem in place with a lot of pins before I sewed it. I did finish the seams - it didn't ravel a lot but seemed like it could. The skirt was one of the first things I made when I learned to sew and I didn't find the fabric tricky to sew at all.
What are you planning to use it for? It's a very hot fabric and doesn't breathe at all. It would be best for cold-weather wearing.