diff --git a/setup.py b/setup.py
index 26bf8ec..1e88996 100644
--- a/setup.py
+++ b/setup.py
@@ -5,12 +5,15 @@
 from setuptools import setup
 
 install_requires = [
-    'future'
+    'future',
+    'testtools',
+    'unittest2'
 ]
 
 if (sys.version_info < (3,0)):
     # has a different name if supporting Python3
     install_requires.append('python-ntlm')
+    install_requires.append("repoze.lru")
 else:
     install_requires.append('python-ntlm3')
 
@@ -59,6 +62,7 @@
 
   tests_require = [
       'testtools',
+      'repoze.lru',
       'unittest2' # so testtools tests are auto-discovered
   ],
   test_suite = "tests",
diff --git a/tests/creation_tests.py b/tests/creation_tests.py
index e97c17c..0d26551 100644
--- a/tests/creation_tests.py
+++ b/tests/creation_tests.py
@@ -1,4 +1,4 @@
-from testtools import TestCase
+#from testtools import TestCase
 
 import v1pysdk
 from .common_test_server import PublicTestServerConnection
diff --git a/v1pysdk/cache_decorator.py b/v1pysdk/cache_decorator.py
deleted file mode 100644
index acac901..0000000
--- a/v1pysdk/cache_decorator.py
+++ /dev/null
@@ -1,25 +0,0 @@
-def key_by_args_and_func_kw(old_f, args, kw, cache_data):
-    """Function to produce a key hash for the cache_data hash based on the function and the arguments
-       provided."""
-    return repr((old_f, args, kw))
-
-
-def memoized(old_f):
-    """Decorator that memoizes calls to old_f into a single instance-specific _memoized_data hash"""
-    def new_f(self, *args, **kw):
-        """Function to wrap the decorated method"""
-        if not self._memoized_data:
-            self._memoized_data = {}
-        #generate a hash using the provided hashing function from the closure
-        new_key = key_by_args_and_func_kw(old_f, args, kw, self._memoized_data)
-        # check if it's already in the memoized data
-        if new_key in  self._memoized_data:
-            # return what's already there
-            return self._memoized_data[new_key]
-        # not found, call the real function and put the results in the memoized data
-        new_value = old_f(self, *args, **kw)
-        self._memoized_data[new_key] = new_value
-        return new_value
-    return new_f
-
-#memoized = cached_by_keyfunc()
diff --git a/v1pysdk/v1meta.py b/v1pysdk/v1meta.py
index 1666815..5536af7 100644
--- a/v1pysdk/v1meta.py
+++ b/v1pysdk/v1meta.py
@@ -1,5 +1,10 @@
 import sys
 
+if (sys.version_info < (3,0)):
+  from repoze.lru import lru_cache
+
+else:
+  from functools import lru_cache
 try:
     from xml.etree import ElementTree
 except ImportError:
@@ -7,7 +12,6 @@
 
 from .client import *
 from .base_asset import BaseAsset
-from .cache_decorator import memoized
 from .special_class_methods import special_classes
 from .none_deref import NoneDeref
 from .string_utils import split_attribute
@@ -17,7 +21,6 @@ def __init__(self, *args, **kw):
     self.server = V1Server(*args, **kw)
     self.global_cache = {}
     self.dirtylist = []
-    self._memoized_data = {}
 
   def __getattr__(self, attr):
     "Dynamically build asset type classes when someone tries to get attrs "
@@ -28,14 +31,15 @@ def __enter__(self):
     return self
 
   def __exit__(self, *args, **kw):
-    self.clear_memoized_cache()
+    if (sys.version_info > (3, 0)):
+      self.asset_class.cache_clear()
+    else:
+      self.assert_class.clear()
+
     self.commit()
 
-  def clear_memoized_cache(self):
-      """Clears the memoization cache produced by the @memoized decorator"""
-      self._memoized_data={}
 
-  @memoized # from .cache_decorator
+  @lru_cache(maxsize=512)
   def asset_class(self, asset_type_name):
     xmldata = self.server.get_meta_xml(asset_type_name)
     class_members = {
@@ -93,7 +97,7 @@ def add_to_dirty_list(self, asset_instance):
     # are a few triggers to do this, it's best to clear our memoization cache for
     # query responses as soon as we have something that can get flushed rather than
     # waiting for it to actually be flushed
-    self.clear_memoized_cache()
+    self.asset_class.cache_clear()
     self.dirtylist.append(asset_instance)
 
   def commit(self):
@@ -101,7 +105,7 @@ def commit(self):
       # we're flushing changes, make sure our memoization cache is cleared so the updates
       # are re-queried
       if self.dirtylist:
-          self.clear_memoized_cache()
+          self.asset_class.cache_clear()
       for asset in self.dirtylist:
           try:
               asset._v1_commit()