I\'m looking to start using a key/value store for some side projects (mostly as a learning experience), but so many have popped up in the recent past that I\'ve got no idea
I really like memcached personally.
I use it on a couple of my sites and it's simple, fast, and easy. It really was just incredibly simple to use, the API is easy to use. It doesn't store anything on disk, thus the name memcached, so it's out if you're looking for a persistent storage engine.
Python has python-memcached.
I haven't used the Ruby client, but a quick Google search reveals RMemCache
If you just need a caching engine, memcached is the way to go. It's developed, it's stable, and it's bleedin' fast. There's a reason LiveJournal made it and Facebook develops it. It's in use at some of the largest sites out there to great effect. It scales extremely well.