Memcache is a powerful distributed cache, but it is no faster than caching locally for some content. Caching should allow you to avoid bottlenecks, which are usually database queries and network queries. If you can cache your full page locally as HTML because it does not change very often (not very dynamic), your web server can serve it much faster than the memcache request. This is especially true if your memcache server, like most memcached servers, is on separate machines.
The flip side of this is that I sometimes use memcache locally, rather than other caching options, because I know that someday I will need to move it to my own server.
Aaron source share