Comment #11 on issue 198 by ad...@yqed.com: Logs always empty http://code.google.com/p/memcached/issues/detail?id=198
I was referring to the part where another project member stated that logging will be available into "next version". At the time, it was 1.4.5 release and the option was supposed to be implemented into 1.4.6 relaxed.
