"out of memory storing object" errors in memcached 1.2.5

[Scott Raymond-2]

I'm getting "out of memory storing object" errors from memcached
1.2.5. It seems that I'm able to store larger values, but not smaller
ones. Here's an example of that, as seen from the client side
(ruby/memcached-client): http://pastebin.com/m354f2d8a

Here's the result of running "stats slabs", as well as a failing "set"
command: http://pastebin.com/m58d2dcaa

Here is the result of "stats items": http://pastebin.com/m64439dee

The command used to start memcached is "memcached -d -m 4096 -p 11214
-u root". I am running three instances: two that have been running for
a few
weeks (which are throwing these errors), and one that I restarted
yesterday (which is fine, so far.) Not sure if this is useful, but
here's the results of the stats command from the client:
http://pastebin.com/m52777f4

Dormando and brianlmoon helped debug this issue on IRC, and the
conclusion seemed to be that dormando would be posting a patch for the
problem shortly. I'm just posting this as a warning post for fellow
travelers. :-)

Scott Raymond