Frankly, because at the volume I was running, it was far too great an investment of time. When I stopped, I had about 75-100 scheduled (learned) flashcards per day if I added nothing the day before, though I usually added 60-some every day. The cards would take me 1-2 hours, and the amount kept building as I was adding to it faster than I was pushing them "out".
Additionally, here our mileage may vary, but even with easy flashcards I occasionally find myself staring dumbly at it for ten or more seconds before I realize what it's asking and smack my head. So I end up trimming out the stupid-easy ones, but that starts to defeat the purpose. Thus, for myself personally, I won't duplicate in flashcards what I'm already memorizing elsewhere.
I know that everyone is different, so this is just my experience and what I have observed in other people. If others continue to have success with SRS, then far be it from me to insist they fix what isn't broken.
even with easy flashcards I occasionally find myself staring dumbly at it for ten or more seconds
To me, that suggests that the card is either too complex and should be split up further, or that you simply do not have solid recall of the relevant facts, so you should just flip to the answer and mark the card difficult. It's quite normal to forget even some basic info over time; the point of SRS is to refresh these memories at the lowest viable cost.
LessWrong seems to be a big fan of spaced-repetition flashcard programs like Anki, Supermemo, or Mnemosyne. I used to be. After using them religiously for 3 years in medical school, I now categorically advise against using them for large volumes of memorization.
[A caveat before people get upset: I think they appropriate in certain situations, and I have not tried to use them to learn a language, which seems its most popular use. More at the bottom.]
A bit more history: I and 30 other students tried using Mnemosyne (and some used Anki) for multiple tests. At my school, we have a test approximately every 3 weeks, and each test covers about 75 pages of high-density outline-format notes. Many stopped after 5 or so such tests, citing that they simply did not get enough returns from their time. I stuck with it longer and used them more than anyone else, using them for 3 years.
Incidentally, I failed my first year and had to repeat.
By the end of that third year (and studying for my Step 1 boards, a several-month process), I lost faith in spaced-repetition cards as an effective tool for my memorization demands. I later met with a learning-skills specialist, who felt the same way, and had better reasons than my intuition/trial-and-error:
Here are examples of the typical kind of things I memorize every day and have found flashcards to be surprisingly worthless for:
Here is what I now use in place of flashcards:
Spaced repetition is still good for knowledge you need to retrieve immediately, when a 2-second delay would make it useless. I would still consider spaced-repetition to memorize some of the more rarely-used notes on the treble and bass clef, if I ever decide to learn to sight-read music properly. I make no comment on it's usefulness to learn a foreign language, as I haven't tried it, but if I were to pick one up I personally would start with a rosetta-stone-esque program.
Your mileage may vary, but after seeing so many people try and reject them, I figured it was enough data to share. Mnemonic pictures and memory palaces are slightly time consuming when you're learning them. However, if someone has the motivation and discipline to make a stack of flashcards and study them every day indefinitely, then I believe learning and using those skills is a far better use of time.