Your approach is generally sound in that you are undertaking a power budget early in your design. Wrt your question ("What is typically done ...?"), I think the answer is that one typically evaluates different approaches, and different technologies to determine the tradeoffs between the candidate designs. Tradeoffs might include cost, weight, performance, etc. There are typically requirements to be considered as well; e.g. The sensor system must operate for X hours without re-charging the batteries.
One thing I noted when reading your comment was your statement, "... a single D battery is about 10Ah ...". If you're talking about a D-cell battery, you should know that the internal resistance of most batteries will increase when they discharge more current. This has the effect of reducing the actual amount of energy you can draw from the battery (Energy being equal to power over time).
I won't go into details here, but you can ask other detailed questions if you like. My point is only that you cannot correctly assume that a battery under discharge will maintain its rated voltage over the entire period of discharge. The website "Battery University" is usually a good resource for understanding the behavior of various battery chemistries.
Hope that helps.