Going from a waking state into the dream state while being conscious I just listened to a audio dhamma talk by Ajahn Punnadhammo. Its called "Stop thinking" and can be found here.

In the last 5 minutes of the talk Ajahn Punnadhammo mentions some good exercises for learning about reality. He says that a good exercise is to try to be conscious while entering the dream state from waking state because the stages of falling asleep exactly mirror  the stages of dying! He says its like a sneak preview of what happens when one dies.

My question is; if one trains in this and succeeds in being aware and conscious throughout the death process and into the next life will one then be able to remember the previous (this) life?

Thank you for your time.

Lanka
If one is truly mindful during the process of death, then one of two possibilities exist; either one will pass away into complete liberation as an enlightened being or, if there is still some substratum of clinging, one will be reborn as a deva or brahma and be fully conscious of one's previous life.