1. A method in a graph storage and processing system, comprising: storing, in a scalable, distributed, fault-tolerant, in-memory graph storage device, base graph data representative of at least one graph; responsive to receiving update graph data representative of a real-time update to the at least one graph, storing, in a real-time, in memory graph storage device, the update graph data with respect to a time threshold, wherein the base graph data and any received update graph data form a complete graph structure of the at least one graph; publishing, by a glue device, any received update graph data as one or more live graph update feeds for use by one or more applications; generating one or more sampled portions of the at least one graph, wherein generating the one or more sampled portions includes sampling, by an in-memory graph sampler, the base graph data to generate one or more base sampled portions, and merging, by the glue device, at least one of the one or more base sampled portions with any published update graph data from the one or more live graph update feeds; providing, by a query manager, a query interface between the one or more applications and the system; and responsive to the query manager receiving a graph-based query from at least one of the one or more applications, processing, by a graph computer, the one or more sampled portions using batch-type computations to generate approximate results for the graph-based query.