What I've come to realize is that memorizing a deck of cards trains so much more than your memory. The way I memorize is to associate every card with an object and its corresponding action, and memorizing the deck of cards is a matter of creating a sequence of events that corresponds to the sequence of cards. So by memorizing a deck of cards I'm actually training different parts of my mind: recalling the item that is associated with the card, coming up with creative stories on the fly when I see a card, and holding the story in my mind as I add 52 objects into the story one by one.
Each of these steps was painfully difficult in the beginning, but now I'm starting to see the fruits of my training. I almost never misplace my things (keys, wallet, etc) anymore. Mind blocks like, "what was the company's name? I used to know it...", happens less frequently and I can recollect facts much faster. Most importantly though, I have seen a dramatic improvement in the speed I learn and understand things. I'm not 100% sure, but I think that the rapid association of cards to objects and creatively creating a story have somehow improved my ability to comprehend and grasp new knowledge.
I whole heartedly believe that the brain is a muscle that can be strengthened through exercise.