Many more reviews than expected with new card settings

Not so much:

As you already said, your retention is very low and you’re doing a lot of intraday reviews, so it’s expected that you’re taking much longer than FSRS estimates. In the latest beta versions, Anki will also take into account the (re)learning steps so perhaps that’ll get somewhat more accurate.

One thing is, the higher the DR you set the more reviews you get. As your true retention was quite low, you’ll probably get more reviews now with FSRS. I suggest you try lowering the number (and see how much decrease in daily load you get using the simulator).

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