I agree with Seth_Xoma, and I believe there is a big difference between memorizing exact positions and learning themes from positions. There are a few basic positions you should know in any case (the most simplle ones being K + p vs K), but apart from that, I believe the vital part of studying endgames is to learn the
themes, which will then help you a lot in similar positions.
Seth_Xoma's position 1 is the kind of position where calculation is not that hard, but in time trouble, it would be very helpful to know the theory. If you have studied the theory, you would instantly know that 1.a5! is winning for White, while 1...a5! is a draw. I would like to add another example:
This postion is a real game which I watched. Both players were in severe time trouble and had little time to calculate. Black instantly played 1...Kc4?? 2.Kxh6 Kb3 3.Kg5 Kxa3 4.h6 Kb2 5.h7 a3 6.h8=Q+ and White won. If he had studied similar endgames, Black would have known that 1...Ke6 was a simple draw.
Position 2 from Seth_Xoma is a good example of a position where calculation is vital, but still, it helps a lot if you know what to look for. Again, I would like to add an example of my own:
This is from one of my own games. I heard after the game that several spectators had wondered why I (being Black) was taking such a long time, as just taking twice on g5 was a "simple draw" (It is a draw, but calling it "simple" sound to me like a neglection of the term "outside passed pawn"). However, having studied similar endgames, I knew that in pawn endgames, having passed pawns separated by four files makes the opponent's king unable to stop both pawns. Thus, after calculating and triple-checking everything, I played 1...fxg5+ 2.hxg5 h5! winning.
Calculation was necessary, but had I never seen positions like that before, I probably wouldn't even have considered such a continuation, giving White two beautiful connected passed pawns which even have come closer to promotion than my two separated passed pawns.
I also have a third example, where unfortunately I don't have the game available, but I remember it was a bishop + 2p vs knight + 3p. In that endgame, it was impossible to calculate all lines, and I still don't know whether the position was really drawn. However, knowledge of the following position helped me a lot:
It is perhaps easy to see this is a draw when you have the position on your board, but when you add more pieces, you wouldn't necessarily think about the fact that you could aim for this position. I suspect my opponent didn't know (or think about) this, as I very easily was able to give up my bishop and reach the position above.
Okay, all this was perhaps nothing else than a supplement to what Seth_Xoma has already said, but as you may have realized by know, I support his view.
EDIT: Now the diagrams should be working.