I haven't really played around with it that much in regards to creating cloth textures,
but for satin you could plug Noise into Bump and set the bump value very low.
Then plug the Clay node into Alternate Diffuse and use the clay Color for
your fabric color. Then plug Blinn into your alternate specular and make
your Specular color in your Blinn node a lighter color.
Silk is probably just a variation on that. 
For faded, on your texture map just make the Texture Strength at the bottom
of the node something less than 1.000.
Worn you can create trans maps to simulate holes and frayed edges,
You'll  have to play around with in your paint program to create holes and
frayed material trans-maps.  Just remember in your trans map white
is visible and black is tranparent.