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Read will have good performance (as long as these are loaded into memory, you can specify preload="true" on the cache store), but with sync (write-through) store you'll always wait for the entry to be persisted when you write. Async store would automatically buffer the writes. For durability there are the backup owners in the cluster (in case you don't expect whole cluster to crash due to power drop).
But of course, your mileage can vary and if you can live with slow writes, your suggested setup is safe.