Just sent in my first, 1st 5 Pages Writing Workshop, rewrite. Took all the critique and incorporated it. I've got a lot of work to do on the full MS, but this rewrite went quickly and cleanly. I'll let you know when they post it and you can read the new critiques as they're posted.
I like that this process has flushed out a few old critique partners / beta readers, and they've gotten back in touch with me with new material of their own for me to read.
Never be afraid to rewrite, to take critique and incorporate it into your story. It'll only make you a stronger writer. And, as I firmly believe, the magic's in the editing. Show that you're willing to make edits, rewrite, and do it quickly and professionally without arguing or defending your text (that's the journalist in me).
I also have to admit, I'm loving the deadlines. They feel great, like I'm flexing a muscle I haven't used in a while.
Enjoy the writing process!