SOTW Columnist, Distinguished SOTW Member
+1. Yes, I've done this on a few occasions when invited to play a gig with a band I haven't played with before, and all I have is a set list and YouTube a few days prior to the gig. I made some notes on whatever tunes I didn't already know, just as in your example, on a piece of paper that I either kept in my pocket and pulled out for a quick look or placed on the floor at my feet if the lighting was good enough. It worked out just fine.One other thing (not sure if it's been mentioned) but often when there are slightly more complexities to remember and reading charts is not possible or appropriate, we would just make shorthand notes as an aide de memoire (aka crib sheet).
So for example if you need a reminder this would be all you might need to for Sea Cruise:
Sea Cruise in C (IV -I - IV - V) F A C D Eb...
So one very quick glance and this gives you the key, chord sequence of horn line, and opening riff. Once you know that the rest sort of takes care of itself.