Technically, our brains do get full, even this article basically says so.
It's just that we don't experience error messages or shut down when that happens - instead, old memories are replaced with new ones.
The total capacity is limited, but the ability to create new memories is unhindered.
I wish we could choose what we forget, but it seems it's possible to choose what you remember - just relearn that stuff or recall it more often, then it will be at the top of the search results, so to say :-)
I'm finding almost everything to be much easier to understand now, compared to how it was when I was younger. Back then, I could focus, read at much faster speeds and my memory seemed way better, if measured by the amount of information I could remember. Entire texts were memorized with one or two passes. But then I'd have to spend time figuring out what to do with the information.
Now, my feeling is that wherever data I absorb is slotted right next to familiar concepts, so even though I read slower, the amount of 'post-processing' is much reduced.
It feels like a compression algorithm. "This new concept is like A and B, except for X, and Y, which are similar to Z". Sometimes, I caught myself saying that aloud. I've had to develop coping mechanisms however, to avoid jumping to conclusions, as my brain loves to do.
Entirely unfamiliar concepts are now way harder. From foreign languages (with different roots) to... Haskell.
For me, I noticed I no longer had instant recall of various remote control buttons. Was a small thing, but until that time, I stored maps of buttons and modes for everything. Now, I sometimes do, but I find I have the general rules, and need to parse devices and apply them now, not just thought as action as it was before.
What I can say is that up until my late 20s this learning did not seem to come at the expense of past learning or memories. Since then I have noticed that while I can still learn new things at around the same pace as in the past, that new learning seems to kick out the old.
Since my ability to learn has not changed (I have had to do courses and other external tests that confirm this personal observation), then the most parsimonious explanation is that new learning is coming at the expense of old learning which is just another way of saying my brain is full :)
Of course it is possible that my memory storage capacity is just getting smaller with age, but if this was the case I would expect it to impact on my ability to learn new things now. My perception is my brain can hold around 30 years worth of learning and as you get old that capacity gets stretched to the point that gaps start to appear. While better than the alternative, getting old is not good :(
And on the subject of memories, are all memories information? If you learn something new in mathematics, do you risk losing the memory of the cake at your fourth birthday party, or only something technical you learned about archery?
Also, if what you are saying is true, you are vulnerable to a DoS attack on your brain. I could flood you with new information right now and, if you read it, you might not remember your mother's name by the end of it.
I've always assumed this was an evolutionary result of weighting memories based on their usefulness, wherein the most useful memories are correlated with their recall frequency. I.e. they are the most useful for surviving my day to day life since I seem to need them a great number of times.
Rather horrifying.
This does bring up an idea I had from years ago where instead of making prisons as boring as possible we make them amazingly interesting places where the prisoners have to use their brains constantly all day. The idea being that all this information will slowly push out the ideas and thoughts of the old person to be replaced with a new ideas and memories that make the person less likely to commit crime once released. The person should come out of prison a better person than they went in.
To recover old info, first concentrate on it and recall as much as possible (what you call "metadata"), and then simply cease focusing on it. Your mind will "re-hydrate" the archived experience in the background. Sometimes this may take a day or two, but usually it requires less than 10 minutes.
Reconsider the memory periodically: each time you should feel an indicator of whether progress is being made (even though the memory isn't yet fully recovered).
One of the good things about my memory is if I remember something it accurate. I used to win lots of bets (for drinks mostly) by exploiting this - people would tell me X happened and I would say no it was Y and would they like to bet on it. I was always amazed at how many people would accept these bets even after losing to me many times - it seemed they forgot that I had an accurate memory :)
The funny thing is I still remember when my brain had spare capacity - I used to fill it with arbitrary facts like what page I was up to when I was reading dozens of books at once. When I was young I never read one book at a time or used bookmarks. I would just remember the page I was up to and whenever I came back to a book I just turned to the correct page. Of course now I have to use bookmarks and every book I read is at the expense of some part of my past :(