Yes, more often that not, surely. You end up throwing a lot of poems (or rhymes) away, but what you end up keeping is worth it. At least, as far as poetry in general is worth it.
Don't reject half-rhyme. Most sonnet-writers today (and there are more, and better, than you think) are writing half-rhymes. For my money, the best half-rhyme I've read recently is Pinsky's Inferno. Which is also half-pentameter, and sounds just like real Italian terza rima.
Nevertheless, except for "watching" the words above are one-hundred-percent rhymes. The poem itself (partly half-rhymed, I admit,) is here:
http://www.poemranker.com/poem-details.jsp?id=94353
I just read a pretty well-received contemporary (ie, published last year) poem with love/above rhymed. It's not impossible, but I'd say if you stick with well-known rhymes, you're almost sure to write the same poems as everybody else's. If you start out with, say, "bipolar" at the end of a line and can make it work, you've got a chance at doing something that hasn't been done yet.