Having spent a lifetime in aviation, I am thoroughly convinced if the value of the safety demo. As a pilot, every time I do a takeoff I brief and plan for the most critical failures at takeoff, even doing touch drills as I enter the runway. This is to ensure things are fresh and at the forefront of my mind should the worst ever happen.
Evidence from numerous accidents has clearly shown that that much flies out of our minds in the shock and startle of a crisis - even the ability to think. Our senses depart us - hearing goes and vision can become tunnel vision as our bodies start the animalistic flight or flight adrenaline fuelled survival response.
I always watch the demo, be it manual or video - because I am aware that the easy familiarity of it might (hopefully not) be a life or death thing.