Well, yes, to some degree it may be a waste of time, but I do find it interesting nonetheless. And while you can't predict the specific time and place of any dream giveaway, there are certainly trends in where and when things are given out. For example, out of 152 unique dreams reported on the sticky thread (I only counted "official" dreams - ears, lanyards, fast passes, etc - not Magical Moments), 14 of them occurred on Star Tours. Ten were on Tower of Terror, eight were at Planet Watch, while no one reported anything from Stitch. That's not to say nothing is given out at Stitch, but it certainly seems to be more frequent in some areas than in others.
And, as far as times go, by my own experience and the reports from others, the bulk of the dreams seem to be given away before noon. During our recent trip, we witnessed dreams between 10:00 and 11:00 am every morning, except for one in Epcot, which happened at about 1:00. So certainly that's something to take into consideration.
I would hope that anyone reading this thread understands that there are no guarantees, and there is no way to accurately predict where and when things will happen. Even if you did know WHERE they were going to be, the timing could be off just enough to make you the next train at Everest, or the next elevator on Tower. There's no way to guess that.
Even so, like I said...I find it very interesting.
More stats on the way....
(Sorry for the delay...our internet went down last night, so I couldn't get on. I think it's the Dream Team trying to foil our plans to figure them out!!

)