Updates:
Status: WontFix
Comment #1 on issue 115 by [email protected]: item_size_ok doesn't account
for CAS
http://code.google.com/p/memcached/issues/detail?id=115
I have a suspicion that we would be seeing mass segfaults if this were true? I'm going to close the bug. If you'd like to reopen, please submit a more detailed bug report, ideally with a runnable test case.
