I can't speak for your gi, but mine did shrink a bit. My pants are more like capris now, but my gi top is okay. I knew the pants would end up short because I used to wear a size bigger in pants (long legs) then my gi top (short torso), but my sensei only sells them together. I wouldn't worry if your sleeves shrink as then you don't have to roll up your sleeves for some techniques. Having short pants isn't that bad either. The only think I don't like is that my reinforced knees are above my knees. HAHA. So I don't have the extra padding there like some people do. Oh well.
My husband and I wash our gi's in cold water and then throw them in the dryer on the lowest heat setting. Ours seem to be doing alright and they are as "soft" as they were when we got them. Though, I am convinced that my husbands is more pliable and soft then mine.. but that is a different story.
