Timed testing and drills works for some kids but for others it can backfire and cause math anxiety in the long run. There have been a lot of studies recently to support this. An example:
http://www.edweek.org/ew/articles/2012/07/03/36boaler.h31.html
OP - if your kid shows any aversion to timed drills don't go that route. Games, school house rock etc are all good ideas. If he is a kinetic learner try practicing while running or playing catch.
Recently a friend told me that, back in the 70s, her parents wrote the problem on index cards then taped them to the stairs. When she went up the stairs she would practice. 1x1 = 1 take a step, 1x2 =2, take a step. They did a new number every week and in ten weeks she had them down. I haven't tried that on my kid but it sounds like a good idea.
For some kids sitting still is a distraction. It was for me. I learned my times tables and practiced spelling while jumping on the trampoline.