I got the opportunity to use both memcached and redis together in the caching proxy that i have worked on , let me share you where exactly i have used what and reason behind same....
Redis >
1) Used for indexing the cache content , over the cluster . I have more than billion keys in spread over redis clusters , redis response times is quite less and stable .
2) Basically , its a key/value store , so where ever in you application you have something similar, one can use redis with bothering much.
3) Redis persistency, failover and backup (AOF ) will make your job easier .
Memcache >
1) yes , an optimized memory that can be used as cache . I used it for storing cache content getting accessed very frequently (with 50 hits/second)with size less than 1 MB .
2) I allocated only 2GB out of 16 GB for memcached that too when my single content size was >1MB .
3) As the content grows near the limits , occasionally i have observed higher response times in the stats(not the case with redis) .
If you ask for overall experience Redis is much green as it is easy to configure, much flexible with stable robust features.
Further , there is a benchmarking result available at this link , below are few higlight from same,
Hope this helps!!