I am currently using memcached with my java app, and overall it\'s working great.
The features of memcached that are most important to me are:
memcached can be substituted by Couchbase - this is an open source and commercial continuation of this product line. It has data to disk persistence (very efficient and configurable). Also original authors of memcached have been working on Couchbase and its compatible with memcached protocol - so you don't need to change your client application code! Its very performing product and comes with 24/7 clustering and Cross Datacenter Replication (XDCR) built in. See technical paper.