I would feel kind of okay with infinite scroll if it wasn't creating memory problems. Especially on image-heavy (tumblr) / DOM-heavy (facebook) pages. If I browsed the web in 90s mode (one window, one page opened) that would maybe work, but when I have dozens of tabs opened, youtube playing in background and I start browsing an endless memory-hungry page, my laptop (3 GB RAM) starts dying. Another issue is the one me…
I also wonder about "memory problems", but of the soft kind. I like to consuming "pages" of content at a time, spread between many tabs. Usually I read to the bottom of a "page", and then switch tabs. When I come back to that tab, I'm ready to go to the next page. But with infinite scrolling, I feel like I'd be re-reading content to find my exact spot I left off..
Remember the old printers, and how the paper had holes on the sides, and was just one continuous sheet? Imagine if magazines were printed that way, so you didn't flip pages, but instead you just kept folding back a part of the endless paper and reading on.
That's how I feel with infinite scroll. I like flipping magazine pages like I enjoy clicking links. I don't know what it is exactly, it just feels more natural, and organized.
There are exceptions though. If I'm using an iPhone, endlessly scrolling through my inbox, or song list (with the ability to tap to a particular letter), works incredibly well. Then again, touch screens in general feel great with infinite scroll. It's a tricky situation, and really depends on the device and content.