I am caching longitude and latitude (plus a bit more info) for possibly 1000s of locations, currently using a JavaScript hash, a {}. e.g.
var cache = {};
cache['Boston, MA'] = { id: someid, latlon: [lat, long] };
cache['Someotherplace, TX'] = { id: someotherid, latlon: [itslat, itslong]};
Everytime a new location comes up I do a geocode and add the results to the cache. I don't think Boston's latitude will change anytime soon...
Will lookups be reasonably fast? I don't need blazing fast, I'm not running Amazon, but as this data grows to, say 2000 locations, will it bog down? If so, what might be a good alternative?