depends on your discipline. kata-based arts (like tae kwon do or akido) usually are too rigid for immediate translation to real world application. best practice for me was getting some kendo gear and just going at it full combat, no rules.
when it comes down to it, though, street situations aren't fair, and you never know when a gun, a knife, or six of the guy's friends are going to be introduced into the equation. it's better just to be jacked for your money instead of risking your life.