Memcache provides caching only.
eAccelerator provides opcode caching + caching, but caching need to be enabled during compilation and may not be available in default installation.
So you can use standard eAccelerator installation for opcode caching and memcached for other caching.
If memcached server is installed on the same server you can enter localhost or 127.0.0.1 as memcached server.
Please note if eAcceletator/Memcache cache engine can not be initialized then it uses default file cache, so to make sure that it is used - clear /cache/ folder and watch if files are created here - it should be just several files - which are stored on filesystem anyway - but not more that 3-5 files. If there are numerous files in /cache/ folder, then eAcceletator/Memcache cache engine is not used.
I did that first before posting.... It did not work. I just did it three times in a row and on the third attempt it worked ??? I dont know what was up with that but all is good now.
On a side note whats better to run memcache or eAccelorator in the admin section ? I have both installed.
also what would i put in the memcache host if i am on a dedicated machine ? Just the same ip of the dedicated machine ?
Thanks Alex