I must admit that I am getting very tired of this thread of reply upon reply.
I am going to list two web sites:
Why format a flash memory device?
http://www.apotelyt.com/photo-memory/formatting-flash-mediaFormatting a memory card, flash drive or device using a Windows 8 System
http://kb.sandisk.com/app/answers/detail/a_id/12766/~/formatting-a-memory-card,-flash-drive-or-device-using-a-windows-8-system
You can read these or ignore them as you wish. But I am going to make a couple points:
1) Erasing leaves the data on the card. It still has to be erased when the camera goes to save a file. The memory card's state machine or CPU will have to take the time to physically erase the memory cells within a region that is intended to hold the picture, confirm that it is erased and then save your picture. This adds some time.
2) Formatting removes the actual data on the card and leaves all the memory cells in a condition they are ready to be written to. To the camera, the extra steps above are not needed, since it is already erased.
You should probably be able to measure a difference in how fast it can shoot successive pictures in burst mode (after filling the buffer memory first). For taking one shot, or just a few, the camera stores the images in a much faster buffer memory, and then hands off those images to the flash memory as fast as it is able to accept it. It is this 2nd step that will go faster.
3) And should a bad place in the memory be found, it will mark that area as bad.
The bottom line is that it is a very good practice to format the cards just because they will operate more efficiently and problems will be dealt with as memory cells go bad.
And by the way, there is no difference between formatting in the camera or on the computer, except for one thing. The camera may install extra directories to place data and other stuff into, which is why it makes sense to do it in the camera. But this is after the format is over.
I don't know what more can be said about this. Its that simple!