Oh heck yes! Three times in college alone saved my bacon. Countless times afterward. It has become more developed as time went on. People I am with often look at me strange if I divert or pause until I clue them in and they see the situation unfolding (sometimes). I'm nothing special, just been in some close call that taught me things that others have yet to experience. If they listen, they won't need to.
Nothing beats interfering with someone up to no good and watching them stomp off knowing you avoided an altercation for yourself or someone else.