I'd rather spend our children's time letting them know that these formulas exist, making sure they can perform them as needed, and then have them move onto something new. No need to drill / memorize trivial (as opposed to fundamental and foundation) stuff that is 2 seconds a way with google.
The worst kind of math education was that endless dribble associated with memorizing useless patterns that could easily be looked up in a book. At one point I had (painfully, oh my god, so painfully) memorized about 20 different patterns so I could chunk up integrals into products of u(x)v(x)only to spit them back on exam day, and never again look back on any kind of calculus. That was not a pleasant day week in high school. Would have been much better spent learning Geometry, Prob/Stats, Discrete Math, Linear Algebra, or any other host of mathematically oriented topics.