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So I didn't really expect my service to be "yet another," but ritonlajoie seems to have beaten me to the punch by a little bit (http://news.ycombinator.com/item?id=1727045). If anyone was interested in ritonlajoie's service, but has a 'node in Newark rather than Dallas, feel free to check out my service.
Wow, only a 4 hour difference in two people launching nearly the same thing. Pretty neat.
(comment deleted)
Here's what I want: someone to offer memcached as a service on aws. I only pay for memory used. I can set a maximum of memory. I don't have to setup/admin the memcached server. It can cost a little more than a bare server, but since I only pay for what I use, it's cheaper for me, and you still make some profit since you have multiple customers.

Anyone?

Northscale
Thanks for the pointer (checking them out), but that's not what I want, right? I still have to set it up and manage it myself.

I just want easy memcached access. No setup/management for me. I'm actually waiting for Amazon to add this themselves.

they do hosted memcached on ec2 for heroku. you're right though, there's no mention of a service on their site.