I re-use my yeast - haven't had a problem in doing so and intend to continue.
Only thing is that I am full to capacity with beer! Experience has been gained, but now of course I need to make a decision about how to maintain my strain for a few months.
For longer term storage, Dave Line says in his book that you should put some yeast on a bit of tissue paper and let it drain, form it into a ball and wrap it in cling film before putting it into the freezer tray of your fridge. my instant response to that is a little impolite, but does it work? I know that H&G sell propagating equipment and that you can wash your yeast in acid, but does that enable you to store yeast for longer, or just improve sanitation on the next batch?
harvesting & storing yeast