I haven't reviewed any faqs yet...but do recall being a newbie...and wishing there was a 'central thread' I could turn for my questions. Being new, searching was a drag.
The faqs, I feel arose from the desire to be helpful to newbies, and pinned so they could be found. I know I still turn to them myself on occasion...for karate terms, useful links, books to read, etc. Although, a problem with some faqs is they depend too heavily on links to other websites...and those links tend to expire. I do think it's part of a moderator's discretion to prune and maintain their section every so often.