I didn't rinse my oolite and had no issues, it cleared up pretty quickly too! If I had the time while setting this tank up I probably would have rinsed it, but other then having to wipe the tank and sump down from the dust after it all settled I had no problems. Although I do remember the filter socks being pretty nasty by the time the tank cleared lol.
Took mine a few hours to clear up when I added more to my tank recently. I didn't rinse mine just added some filter floss and adjusted my skimmer a bit.
I just rinse small batches in kitchen sink; worth the effort. You can buy flocculent to bind sand grains together and clear your water much faster - that's what comes with the live sand.
I had a 20G drum of pink Philippine sand a long time ago. When I rinsed it I found some rusted metal (nails/screws?) in it. Rinse it in a cheap dollar store version of this dishpan: http://www.acehardware.com/product/index.jsp?productId=1273712. You can use warm water.