I just worked on something similar in my lab.    Can you check the following. 1) Run a netstat -ano |more                    Do you see anything listening on port 11211  ? 2) Check the following reg key                 HKLM\System\CurrentControlSet\Services\memcached              ImagePath=             Can you post the path?  Remove your server name before posting.
Has anyone tried v1.4 yet? We just upgraded and the UI is unresponsive in certain areas and throws up errors in others. I can roll back to 1.3 if I need to but I figured I would ask around first.
v1.4 Issues