I won't refer to subjective views of intellect, but one of the WAIS IQ tests' component is the Verbal Comprehension Index. Among other things, it aims to measure the degree of general information acquired from culture by the person and her ability to deal with abstract social conventions, rules and expressions, as well as her vocabulary. To me, each of those three subtextually imply a certain degree of memorization, or accumulation of knowledge if you will.

Alternatively, one could say that knowing your tools is quite important. I mean, I'd consider someone who learns, forgets, and relearns what a screwdriver does not to be the definition of 'bright'.