Boliverallmon,
[Edited to remove sarcastic comments]
I don't know what you mean when you say you "know" a piece. There are several levels of knowing any piece of music from having the notes under your fingers, to having it memorized, to having it polished and performance ready. By repeating a piece over and over you may be reinforcing tactile memory, but you are not learning anything more about the structure, improving it technically, phrasing voicing, etc., which is why it is an inefficient and unimaginative method of practicing.
Also, the danger of this type of mindless practice is mistakes slowly creep in and become reinforced with added repitition.
Repetition is very important in practicing, but playing through beginning to end over and over is not the way to go.
Hands sep. practicing will improve a piece at any level. IMO, if I cannot play a piece hands seperately by memory, I don't really have it memorized. This type of practising is especially important with Bach because you have to make sure each hand is secure with contrapuntal music, and it takes continued maintenance - ie, you may never reach a level in a piece where hands sep. practice cannot improve it.
That's just one way of practicing. There are several others as well that are much more useful than simply playing through over and over.