If I was to set a wildcard in my subdomain (*.example.com) to redirect to www.example.com, would that affect any pre-existing subdomains (for example, blog.example.com) or would it only redirect things I haven't set?
This might help:
http://ma.tt/2003/10/wildcard-dns-and-sub-domains/
Thank you chrishea, that has answered my question.