I agree with whoever you saw learning. When I chazar, I do it top speed (approximately 5 minutes per amud with rashi, and 12 minutes per amud with tosfos). In my view, the point of the chazara is to drill the gemara into my head. Due to this method of chazara, I know mnay gemaras by heart although some of the memory is fading with time. I think knowing a lot of material well enough to quote is extremely valuable.
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