I have a single server site thats pushing 200k unqiues per day, and the traffic doubles roughly every 40 days (for the last 5 months anyway).
I pretty much only plan to
A quick Googling says that APC is 5 times faster than Memcached.
My experience say that APC is nearly 7-8 times faster than Memcached.. but, memchached can be accessed by different services (for example, if you run mainly on apache and delegates some traffic, e.g. static contents like images or pure html, to another web-service, like lighttpd), that can be really usefull, if not indispensable.
APC have less feature than memcached and is easly to use and optimize, but this depends on your needs.