Here's my experience of using couple of node-memcached modules
3rd-Eden/node-memcached. The project doesn't seem to be stable and has bugs with storing BLOBS (see issue #46 and issue #48 for details). Moreover I found it's code quite hard to read (and thus hard to update), so I wouldn't suggest using it in your projects.
elbart/node-memcache seems to work fine, and I feel good about the way it's source code is written, but it doesn't support storing BLOBs (there's a fork that is said to add the ability, but I haven't tested it)
overclocked/mc is the one I like a lot. This is the only one that is capable of storing BLOBs. It has nice documentation, its code looks good and it is easy-to-use.
Currently I use overclocked/mc in my project and everything seems to be working fine.