Yep. I visualise it as kind of a movie reel, with each frame representing a different dream. The odd thing is, the older the dream, the rarer it is I can lucid dream properly.
For example, I have logged some dreams from when I was 6. I have awareness, but I can't control anything. Newer dreams, I have full control over. They're like Fallout 3 or Oblivion. I know the main story is there, I can just choose to avoid it if I want.
If I have a dream that I like, I can add it to the reel. From there it acts like the "Oblivion" dreams: I can follow the original story, or go out and make a new one.