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Configuring memcached in Webfaction

I try to install memcached coz I've realized it solves many things. I have actually 3 askbot sites, one is the production environment and the other two are for development/testing purposes.

I'm hosted on Webfaction, in a plan with 256MB allowed memory. I read their instructions about memcached here and here which explain a lot but I still have questions coz I m new in python and django:

  1. At command memcached -d -m memory -s ~/memcached.sock how much memory should I set?
  2. Do I have to download anything from the refered link, or I just run PYTHONPATH=$HOME/webapps/django_app/lib/python2.7/ easy_install-2.7 --install-dir=$HOME/webapps/django_app/lib/python2.7/ --script-dir=$HOME/webapps/django_app/bin/ python-memcached ?
  3. How can I be sure that memcached is set up and works properly?
  4. Is it better to configure memcached for all my 3 sites?.