This is definitely a worthwhile skill to develop. People don't like it when you forget their names, even when they themselves admit to being bad with names.
I noticed at some point in college that remembering the name of a girl you meet at a party is the number one thing you can do to impress her. More important than being good looking, witty, well dressed, etc.
Good advice, although try to be tasteful repeating the name in conversation. It can get irritating when somebody keeps repeating my name over and over again to my face.
