As a long time DBA and Database Architect this idea is repugnant – make a database 100% de-normalized; one table and except for the one query, retrieval by primary key, nothing else works. And yet we have had great success using this kind of database.
This does not replace the original normalized database, rather it is more like a permeant cache fed from the main database. It is a MySQL database which has certain advantages over Memcached or other true caches such as it is permanent until our processes replace it.
Consider what it might take to build a simple web page: get a request, process it which might take many queries and some significant processing then send back your html.
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