[Folwren]

She couldn't just say, "People die." How good would that sound? I think it would have been more appropriate to have written the line, "For few now live who remember it" because, as you say, there are couple characters who remember it first hand - Galadriel, Elrond - and several who know of it second hand or more - Aragorn, Gandalf, Saruman, Denethor. Several had forgotten it, but it wasn't lost altogether.

But, really, a lot of times, the main purpose of cool sounding quotes in a movie is purely for how cool they sound, and not for any other purpose. Think about half of Legolas' lines - "A diversion!" "This is Aragorn, son of Arathorn, you owe him your alliegance." (How was Boromir supposed to know who on earth Arathorn was?)

Just my thought.