diff --git a/openedx/core/djangoapps/xblock/runtime/blockstore_field_data.py b/openedx/core/djangoapps/xblock/runtime/blockstore_field_data.py
index 517e93b3e2..d849bfcfb9 100644
--- a/openedx/core/djangoapps/xblock/runtime/blockstore_field_data.py
+++ b/openedx/core/djangoapps/xblock/runtime/blockstore_field_data.py
@@ -180,9 +180,7 @@ class BlockstoreFieldData(FieldData):
             # Otherwise, this is an anomalous get() before the XML was fully loaded:
             # This could happen if an XBlock's parse_xml() method tried to read a field before setting it,
             # if an XBlock read field data in its constructor (forbidden), or if an XBlock was loaded via
-            # some means other than runtime.get_block(). One way this can happen is if you log/print an XBlock during
-            # XML parsing, because ScopedStorageMixin.__repr__ will try to print all field values, and any fields which
-            # aren't mentioned in the XML (which are left at their default) will be "not loaded yet."
+            # some means other than runtime.get_block()
             log.exception(
                 "XBlock %s tried to read from field data (%s) that wasn't loaded from Blockstore!",
                 block.scope_ids.usage_id, name,
diff --git a/openedx/core/djangoapps/xblock/runtime/blockstore_runtime.py b/openedx/core/djangoapps/xblock/runtime/blockstore_runtime.py
index 2f474ebdd2..8b3558bced 100644
--- a/openedx/core/djangoapps/xblock/runtime/blockstore_runtime.py
+++ b/openedx/core/djangoapps/xblock/runtime/blockstore_runtime.py
@@ -13,7 +13,7 @@ from xblock.fields import ScopeIds
 
 from openedx.core.djangoapps.xblock.learning_context.manager import get_learning_context_impl
 from openedx.core.djangoapps.xblock.runtime.runtime import XBlockRuntime
-from openedx.core.djangoapps.xblock.runtime.olx_parsing import parse_xblock_include, BundleFormatException
+from openedx.core.djangoapps.xblock.runtime.olx_parsing import parse_xblock_include
 from openedx.core.djangoapps.xblock.runtime.serializer import serialize_xblock
 from openedx.core.djangolib.blockstore_cache import (
     BundleCache,
@@ -85,12 +85,7 @@ class BlockstoreXBlockRuntime(XBlockRuntime):
         This runtime API should normally be used via
         runtime.get_block() -> block.parse_xml() -> runtime.add_node_as_child
         """
-        try:
-            parsed_include = parse_xblock_include(node)
-        except BundleFormatException:
-            # We need to log the XBlock ID or this will be hard to debug
-            log.error("BundleFormatException when parsing XBlock %s", block.scope_ids.usage_id)
-            raise  # Also log details and stack trace
+        parsed_include = parse_xblock_include(node)
         self.add_child_include(block, parsed_include)
 
     def add_child_include(self, block, parsed_include):
diff --git a/openedx/core/djangoapps/xblock/runtime/olx_parsing.py b/openedx/core/djangoapps/xblock/runtime/olx_parsing.py
index 9318cf415a..e4a27e996b 100644
--- a/openedx/core/djangoapps/xblock/runtime/olx_parsing.py
+++ b/openedx/core/djangoapps/xblock/runtime/olx_parsing.py
@@ -27,9 +27,6 @@ def parse_xblock_include(include_node):
     # An XBlock include looks like:
     # <xblock-include source="link_id" definition="block_type/definition_id" usage="alias" />
     # Where "source" and "usage" are optional.
-    if include_node.tag != 'xblock-include':
-        # xss-lint: disable=python-wrap-html
-        raise BundleFormatException("Expected an <xblock-include /> XML node, but got <{}>".format(include_node.tag))
     try:
         definition_path = include_node.attrib['definition']
     except KeyError:
diff --git a/openedx/core/djangolib/blockstore_cache.py b/openedx/core/djangolib/blockstore_cache.py
index c7b94f2061..c1d12d99c3 100644
--- a/openedx/core/djangolib/blockstore_cache.py
+++ b/openedx/core/djangolib/blockstore_cache.py
@@ -13,6 +13,7 @@ from datetime import datetime
 from uuid import UUID
 
 from django.core.cache import caches, InvalidCacheBackendError
+from django.utils.lru_cache import lru_cache
 from pytz import UTC
 import requests
 
@@ -32,7 +33,7 @@ except InvalidCacheBackendError:
 # (Note that we do usually explicitly invalidate this cache during write
 # operations though, so this setting mostly affects actions by external systems
 # on Blockstore or bugs where we left out the cache invalidation step.)
-MAX_BLOCKSTORE_CACHE_DELAY = 60 * 5
+MAX_BLOCKSTORE_CACHE_DELAY = 60
 
 
 class BundleCache(object):
@@ -143,19 +144,18 @@ def get_bundle_version_number(bundle_uuid, draft_name=None):
     return version
 
 
+@lru_cache(maxsize=200)
 def get_bundle_version_files_cached(bundle_uuid, bundle_version):
     """
     Get the files in the specified BundleVersion. Since BundleVersions are
-    immutable, this should be cached as aggressively as possible.
+    immutable, this should be cached as aggressively as possible (ideally
+    it would be infinitely but we don't want to use up all available memory).
+    So this method uses lru_cache() to cache results in process-local memory.
+
+    (Note: This can't use BundleCache because BundleCache only associates data
+    with the most recent bundleversion, not a specified bundleversion)
     """
-    # Use the blockstore django cache directly; this can't use BundleCache because BundleCache only associates data
-    # with the most recent bundleversion, not a specified bundleversion
-    cache_key = 'bundle_version_files:{}:{}'.format(bundle_uuid, bundle_version)
-    result = cache.get(cache_key)
-    if result is None:
-        result = blockstore_api.get_bundle_version_files(bundle_uuid, bundle_version)
-        cache.set(cache_key, result, timeout=None)  # Cache forever since bundle versions are immutable
-    return result
+    return blockstore_api.get_bundle_version_files(bundle_uuid, bundle_version)
 
 
 def get_bundle_draft_files_cached(bundle_uuid, draft_name):
@@ -202,34 +202,24 @@ def get_bundle_file_data_with_cache(bundle_uuid, path, bundle_version=None, draf
     cached list of files in each bundle if available.
     """
     file_info = get_bundle_file_metadata_with_cache(bundle_uuid, path, bundle_version, draft_name)
-    response = requests.get(file_info.url)
-    if response.status_code != 200:
-        try:
-            error_response = response.content.decode('utf-8')[:500]
-        except UnicodeDecodeError:
-            error_response = '(error details unavailable - response was not a [unicode] string)'
-        raise blockstore_api.BundleStorageError(
-            "Unexpected error trying to read {} from bundle {}: \n{}".format(path, bundle_uuid, error_response)
-        )
-    return response.content
+    with requests.get(file_info.url, stream=True) as r:
+        return r.content
 
 
+@lru_cache(maxsize=200)
 def get_bundle_version_direct_links_cached(bundle_uuid, bundle_version):
     """
     Get the direct links in the specified BundleVersion. Since BundleVersions
-    are immutable, this should be cached as aggressively as possible.
+    are immutable, this should be cached as aggressively as possible (ideally
+    it would be infinitely but we don't want to use up all available memory).
+    So this method uses lru_cache() to cache results in process-local memory.
+
+    (Note: This can't use BundleCache because BundleCache only associates data
+    with the most recent bundleversion, not a specified bundleversion)
     """
-    # Use the blockstore django cache directly; this can't use BundleCache because BundleCache only associates data
-    # with the most recent bundleversion, not a specified bundleversion
-    cache_key = 'bundle_version_direct_links:{}:{}'.format(bundle_uuid, bundle_version)
-    result = cache.get(cache_key)
-    if result is None:
-        result = {
-            link.name: link.direct
-            for link in blockstore_api.get_bundle_version_links(bundle_uuid, bundle_version).values()
-        }
-        cache.set(cache_key, result, timeout=None)  # Cache forever since bundle versions are immutable
-    return result
+    return {
+        link.name: link.direct for link in blockstore_api.get_bundle_version_links(bundle_uuid, bundle_version).values()
+    }
 
 
 def get_bundle_draft_direct_links_cached(bundle_uuid, draft_name):
diff --git a/openedx/core/lib/blockstore_api/__init__.py b/openedx/core/lib/blockstore_api/__init__.py
index 8b6de205c6..288aeada6c 100644
--- a/openedx/core/lib/blockstore_api/__init__.py
+++ b/openedx/core/lib/blockstore_api/__init__.py
@@ -51,5 +51,4 @@ from .exceptions import (
     BundleNotFound,
     DraftNotFound,
     BundleFileNotFound,
-    BundleStorageError,
 )
diff --git a/openedx/core/lib/blockstore_api/exceptions.py b/openedx/core/lib/blockstore_api/exceptions.py
index b58251d31f..06e6de93c6 100644
--- a/openedx/core/lib/blockstore_api/exceptions.py
+++ b/openedx/core/lib/blockstore_api/exceptions.py
@@ -25,7 +25,3 @@ class DraftNotFound(NotFound):
 
 class BundleFileNotFound(NotFound):
     pass
-
-
-class BundleStorageError(BlockstoreException):
-    pass