Awesome Plot Twist... Or was it?

I just thought of this for my group... however, since I thought of it, and it's really cool, I also decided NOT to implement it..

Too bad it was all a dream and you are all chained up on a wall with a Mind Flayer sucking your memories out.  What you encountered was a fragment of a memory from the past when you were more experienced.  Since he's been sucking memories, you've all dropped to 1st level.  and can now go through your lives all over again, making different choices along the way...

Hence it was all a dream...

Or was it?