I have to apologies. It was easier than I though to measure it.
Looking at new relic data for the last 7 days the cache is taking up
| Category | Segment | % time | Avg calls (per txn) | Avg time (ms)
| Database | Memcached get | 2.0 | 4.01 | 9.11
| View | sections/_section.html.erb Partial| 0.3 | 0.0637 | 1.16
It seems that rendering this partial is ~9 times faster than getting it from cache.