I hesitantly say this, but I think the answer is a guarded yes .....
You should know, without reference, what you need to know (eg QRH memory items, what ATC are instructing you to do, how to fly a given procedure, etc) and for non-critical things, know where to find the answer.
In other words, some things are time critical - these should be memorised (eg the QRH memory drills) others are not (refer to the appropriate material) - yes, tech knowledge is desirable, but should not be relied upon (eg subtle system differences between similar types - hydraulics between B737-200 and B737-400)