> If you are ... willing to accept a speed and memory hit (roughly factor of two) you could use ASAN in production
That's a pretty interesting idea, and seems to be a practical realization of something people have been trying to do for ages: produce a C variant with more safety. The most prominent project I know trying to do that is the C-like language Cyclone (http://cyclone.thelanguage.org/), but this seems like an alternate approach that lets you get "C but safer" without actually moving away from C.
We're also trying to do that with Rust (it's based on the work of Dan Grossman and others with the Cyclone region-based memory management). It depends on whether you consider it a C variant, of course.
Cyclone is something every programming language enthusiast should look into, IMHO. It's extremely interesting, well-done work.