Using memcache

[swaldman]

This is the first time I've tried using memcache, so I thought I'd post here and check I'm doing it right.
This is perhaps a slightly unusual application, because it isn't for caching something that's in the db.

Scenario: There is a Twitter config variable that we need to know, which changes occasionally. There's a Twitter API call to find it out, but they ask that people don't call this more than once a day. So, my intention is along these lines:

#allow an override, and also a fallback for sites that don't use memcache.
return $LJ::MYVARIABLE if $LJ::MYVARIABLE

my $value = LJ::MemCache::get( 'mykey' );
return $value if $value;

#we clearly don't have it at present
#Do stuff to get the value from Twitter.

LJ::MemCache::set( 'mykey', $value, 24*60*60 );
return $value;

So, does the above make sense? Am I doing things correctly? Is there a convention as to what the key should be called?

Thanks :-)