I would agree with the other posters that the weekly review is more strategic.
My job involves a lot of short actions, single ones as well as project related, so my lists move very quickly. I use my weekly review to step back from the busyness. I often pick up loose ends and tidy up the lists. I look ahead by at least 6 weeks in the calendar and take a really good look at my projects list. The review allows me to link my actions to my projects and keeps on track and proactive, rather than reactive.