I have been spray basting for 12 years now, ever since the sprays first became common and I use them exclusively for all my quilts and no pins at all. In my opinion they hold every square inch of the quilt to the batting & back, something that isn't true for either pin or thread basting. Pins also add a considerable amount of weight to a quilt sandwich. I use Sullivan's spray but I have also used 505 with good results. Like any other product we add to our quilts, i.e. fusible web, paint,starch, sizing, etc., you may have better results if your fabric was washed before making the quilt. The factory sizing can act like teflon in some circumstances. Yes, spray adhesive is a chemical you are adding to your quilt, but all the fabric we buy and all the other products we use are loaded with chemicals and it seems arbitrary to start objecting to spray baste. All the chemicals in fabric is one good reason to pre-wash all your fabric. I do iron the back smooth after I get the whole thing basted, it seems to help adhere the adhesive better. It is easy to reposition during this process and afterward if need be.
I am confident that the adhesive does wash out, not only from my own testing on quilts but the results from washing the old sheet I sometimes use when I need to spray a top or backing on the garage floor when the weather is bad. I am adamant about spraying outside, no one needs adhesive in their lungs or on their furnishings. I spray the wrong side of the back, bring it in and pin it to the floor or up on my design wall. Smooth the batting over, then spray the wrong side of the top outside and bring it in and place it over the batting. I dislike spraying the batting because the loft of the batting seems to require more spray to hold and that can result in gummy needles.
I work for Possibilities and probably quilt 1-2 quilts a week at work, all spray basted and then come home to my own quilting, so I do have a good deal of experience with spray!