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Pretty cool stuff, especially the tool. I usually just graph the memcached hit/miss ratio in (cacti|ganglia|zabbix). Isn't that much easier to determine current and past cache performance than adding additional logging?

(Doesn't allow for simulation of course)

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Definitely graph memcached hit/miss ratios -- they're a good way to diagnose issues in your cache. However, I can think of a few instances where more logging is helpful:

1. Your cache server is shared between several different classes of objects. In this case, the overall memcache hit/miss ratios might mask issues occurring in one class of cached values.

2. You want to figure out how your cache will improve with a given change in cache size (i.e., simulate results ahead of time, as you mentioned).

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