Two simple changes:
First, in memcached.c (in the memcached source directory) add (anywhere above line 105, which reads #ifdef TCP_NOPUSH) the line:
#undef TCP_NOPUSH
I just added it on the line above the #ifdef line.
Rebuild memcached (just do a make && sudo make install, don’t need to re-run configure if you’ve already done it)
then, set the environment variable EVENT_NOKQUEUE to 1
in csh and derivatives: setenv EVENT_NOKQUEUE 1
in sh and derivatives (like bash): export EVENT_NOKQUEUE=1
then start memcached, and it should be fast (it certainly made a difference here)