I believe in memorization. I can't say exactly what it does, but I really feel that it helps in learning. As a teacher of 2nd graders, I encouraged my students to memorize a poem every week.
Then as Handsome went into Primary (a program in our church for children 18 months to 11 years old) it was natural for me to want to help him learn the months scripture, Article of Faith, and song. I never force my kids to memorize it, we just say it every day for an entire month and by the end they have it memorized. This is how Handsome was able to have all 13 articles of Faith memorized when he was a Sunbeam and by default, Gorgeous had them all memorized when she was in nursery. :)
This year I found out about a Charlotte Mason technique where you have a index card file. You label each divider; daily, even, odd, 1, 2, ...31. Then after you have mastered one and are ready to start another, you simply move the index card with the quote on it to the next file. So, say on March 15th, you will recite the one you are doing daily, as well as the one under odd, and the one under the 15. This way you learn new ones, but don't forget the ones you already learned. We are doing it and I highly recommend it. Again, I believe in memorization... I don't know exactly why... but I think it does many good things, especially when my kids are memorizing scriptures.
And of course I am a proud momma when my child decides to stand up in front of primary and recite an article of faith. And of course as a proud mom I have to post some of the latest things they have learned.