I would not push speed at that age; it comes with brain maturity. Our public school does timed addition/subtraction tests in grade 2 and timed multiplication tests in grades 3 and 4. My DS showed ability to compute very early, and his speed increased naturally over time.
Memorization just turned up as a byproduct of interest for our DS. Partly because he watched Schoolhouse Rock, and partly because he had a calculator as his transitional object from age 3-4, he just absorbed it. Certainly by the time those timed tests kick in at school the facts have to be memorized, but I do think that (a) she's likely to memorize them on her own when she's developmentally ready and (b) pushing it before then can be a huge turnoff.
For a 5-year-old, I'd be inclined to go for depth of understanding, playing with numbers, and enjoyment. You can get tangrams or pattern blocks and do elementary geometry, play shopping games, all sorts of ways to cultivate this without its becoming high-pressure work. If you can make the memorization into a game, it won't hurt her, but it's probably not the most urgent concern.
DeeDee
