I remember when I was in school and I and all the other students were “commanded” to memorize various passages of Scripture. This were graded assignments. I am in the minority, I am sure, but I did not then and I don’t now like the idea of memorizing for the sake of memorization. To a person of “my bent” it is fruitless. It is fruitless because rote memory did (does) not educate me; it only demands of me completion of an assignment. That was how I looked at it (and still do). Because Greek requires much memorization, I struggle. However, to learn it most effectively, memorization is crucial. I have memorized Scripture, but that was the result of intensive study of a text, not just the committing to memory a passage.
With that said, if I were in position of teaching at a school of preaching would support the practice of memorization. Though it did not work well for me, it might work well for another. In the end, I support this effort at 100 day of memorization.