We created this community AMI for EC2 using the latest open source release of memcached (v 1.4.1). We have also posted a 64-bit version and an EU version. memcached on EC2 is the simplest way to begin using the latest memcached as released by the community. It's been tested by NorthScale and is free of charge. More information can be found at labs.northscale.com/memcached-ami.