I do this all the time. I tend to run through scenarios while I am having a shower - which is not a good thing in southern Australia with water restrictions, in fact I call the shower cubicle my think tank.
When you find yourself in the 'real' situation you recognize it right away and most of the time it plays out just like you anticipated it would. I go so far as to have conversations with people before I have the conversations. I used to do this out loud when I was a kid, still do sometimes.
My Mum would yell out 'Who are you talking to in there?'
This helps me feel more prepared for a situation but it has a downside in that I have probably already made a judgement about it as well.