I royally hate music stands (not to mention seeing bands use them live). Using them at rehearsals is fine, but not at a gig.
Distracting visually, and reeks of being unprepared. Not to mention that most people will stare at that music stand rather than getting contact with the crowd - that's a big NO NO in my book - anyone who thinks they can pull off both for most of the gig is wrong. Obviously different for yourkind of gig, than a rock band doing a show where show is key though.
That said, I'm getting worse at remembering lyrics to newer songs as well. What I'll usually do is write out keywords to "trigger" phrases/verses that I have trouble remembering in big lettering and keep those on the floor - works fine for me.