Is there any use of keeping more free space in phone memory??

Yes there is, it helps improve performance I guess. If you phone memory is overfilled with data, it might start lagging and get sluggish.
 
well if I had a choice I'd stick apps in phone memory, don't fill up the internal memory completely though, but leave a couple gigs of breathing room is my two cents.
 
Just wanna know..
me too,i had android and when i had too many apps installed..,it began to lag...but here i didn't noticed any lag when having only a few,or almost all the memory full(btw,i've got a lumia 720 -8gb- free space,and now i have just around 1,5gb free),i have an sd card,but it's class 4 but i use that space just for media,and things that don't 'stream' with the phone's memory.
 

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