Would you rather have perfect memory or the ability to forget anything on demand?

I just watched The Sheep Detectives movie with my nephew recently, so it had me thinking: would you rather have perfect memory or the ability to forget on demand?

Perfect memory sounds great until you think about every embarrassing moment, every loss, and every argument you've ever had stored in full detail. On the flip side, selective forgetting could seriously mess with who you are as a person. Which would you actually choose and why?