Yep, we've done it with a few of the most popular rides: FoP, SDD, 7DMT. We got in line more like 10 minutes early, though, because my 12 year old was super nervous we wouldn't be let in if we waited. LOL. Works great, though!
Don't be scared off by the posted time, either. It's pretty much always inflated to discourage people from getting in line.
For instance, November 2017 when DH and I got in the 7DMT line just before closing: Guests in front of us asks CM if it's really going to be 60 minutes like the posted wait. CM looks back at line, says, "yes, it's definitely going to be the full 60 minutes." Guests turn away. We get in line because my Disboards knowledge indicates this will not be so. Wait was 20 minutes.