I'd risk it, but then, I'm well known as being quite daring with what I'm willing to chance putting in the machine. Mine has several "safe" cycles - 30degree delicate, and hand wash, cold quick wash, etc. Never lost anything yet. I do sometimes sit in front of it with my fingers crossed, but going by that care label, I'd chance it. How devastated would you be if it went wrong though?
I wash everything. Dry cleaning fluids are far more aggressive than the 15 min quick handwash cycle with delicates fabric wash. Just don't spin (or put inside a pillowcase for the spin and do it on a slow setting) and don't tumble dry or tumble on coolest setting.
I think stuff gets labelled as dry clean only as the manufacturers know deep down that this means things won't get cleaned as often and therefore the garment will appear to be more durable/better quality to the consumer. Washing cloth using any process naturally causes it to degrade over time so the less you wash things the more longevity you will get out of them (although you'd go through a lot of Febreze!).
I wouldn't wash something that was very expensive but unless I can see a particular reason why it couldn't go in the machine, I tend to choose a hand wash or cool wash on my machine and cross my fingers and hope for the best. I once ruined a pure wool Ralph Lauren jumper because apparently very cold water has the same effect on wool as very hot water (it shrinks) but apart from that everything has lived to tell the tale.
My sofa covers go in the wash despite all the labels saying that it will be catastrophic if you do this and the world will end tomorrow - they come out of the wash looking great and although it is a bit of a faff getting them back onto the cushions, they are not harmed in the process. I can't imagine why I would want to pay for specialist cleaning.