Embedded Video + Views + Lightbox2 - Consider Caching modal output?

Hello,

I have been trying to address performance issues with displaying videos as links in a view, that once a user clicks the link (in my case thumbnails) from any video provider a lightbox window will load. The loaded lightbox modal dialog will then call the modal display for the emvideo module.

The problem is the processing to render the embed code then the theme template wrapper can take up to 16 seconds to render, then client-side the browser will request the 3rd party content.

I have been reviewing the code for the modal display and was wondering if we could use caching for this so it only needs to run once query instead of 40-60?

I was reading this article here: http://www.lullabot.com/articles/a-beginners-guide-to-caching-data
Although it is related to Drupal 5 and is somewhat old the basic design pattern is still usable in D6 (and maybe D7).

I'll update my post with code examples and or a patch if I get the caching to work.