Yes - I agree but please note that I am currently working on the next version of Ebbinghaus which will be available in a few month from now.

As groxx already pointed out, this application needs some minor tweaks. Aside from this, its very useful.

More specifically, it's a flash-card program. Not a bad design, but... needs some work still. For starters, you can only have 3 "lines" of text, which due to the size of the text is very limiting (say goodbye to descriptions, this just allows a few words). It also needs to lose the "Mac+T" and "Mac+F" buttons in favor of a single key for each to handle flipping to the back side of the card, and marking that you got it wrong.
The nearly non-existent statistics and utter lack of preferences mean it's sort of a one-shot deal. It either works for you, or it doesn't.

In light of that, it would probably work just fine for studying vocab for your foreign language class (but probably not history or science, because space is so limited). But not much else.