Your point about spatial memory is a good one, and I'm willing to concede that I'm arguing against myself in that visual feedback is a useful thing to provide to users and such feedback often needs improvements in hardware capabilities. In fact, I missed out the feature that was even more important than moving and resizing when applying "solid movement" of screen content: scrolling. Having immediate feedback when scrolling a window using a scroll bar is the difference between a usable application and a frustrating one.
I don't see the ubiquitous "cover flow" and "reflections on a shiny horizontal surface" to be visual feedback improvements in the same league, somehow.