I actually do it all the time, but mostly just with either my friends or majority of the time, with my dad and my brother. Usually my dad and brother are the only ones really familar with all the various kinds of movies and shows I've seen.
I constantly bring up lines from the Critic, Spaceballs, The Office (best show on TV), Happy Gilmore, and of course Family Guy.
Brian: "You wanna try my smoked meat log?"
that's just pure genius.