I think that my answer would be different were I still in college. When I was, it was a big deal that ONLY initiated members wear our letters (or printed shirts for the new members) or printed shirts. I remember one older sister flipping out when she saw a girl on campus wearing a bid day shirt from her bid day (like in '96 or something), and when she ran up to approach the girl, it turned out it was one of her pledge sisters who had left school but had come back.
Now that I'm not immersed in the drama of it all, I have more important things to worry about, such as packing for our move next month, looking for a new job, law school applications, etc.