Product Version = NetBeans IDE 7.3 RC1 (Build 201301102100)
Operating System = Windows 7 version 6.1 running on x86
Java; VM; Vendor = 1.7.0_10
Runtime = Java HotSpot(TM) Client VM 23.6-b04

Consider a class with these members:

class ValueWrapper {
private String displayName;
private String value;

String getDisplayNameOrValue() {
	String v = getDisplayName();
	if (v == null)
		v = getValue();
	return v;
}
// assume trivial getters/setters for DisplayName and Value
}

I set a breakpoint on the if (v == null) line, when I hit it and look at the variables window it shows me that v="ABCDEF", but it also shows me that this.displayName = "somethingElse" and this.value = "something other". In other words it is a combination that is impossible.
The call to getDisplayNameOrValue() is called in a loop as I process  a list of items of this class.  As I continue and hit the break point each time the local variable 'v' is updated for the new item, but "this" does not update .  It shows the value for the "this" reference the same, e.g.  "#12345", each time through the loop, yet the local variable is correctly updated to the values that come from the real object.