Installing and configuring MemCache

There are many tutorials how to setup memcache, but many are also old and have things you don't really need.

You can find here updated tutorial for that
http://www.howtoforge.com/installing-memcached-and-the-php5-memcache-mod...

But basicly all you need to do on the latest linux and memcache version is install it, like

and that is it. Install drupal memcache module and follow it's configuration, add what's necessary to settings.php and you should be running it like boss.