diff --git a/boltons/cacheutils.py b/boltons/cacheutils.py
index 9533d26..9028de5 100644
--- a/boltons/cacheutils.py
+++ b/boltons/cacheutils.py
@@ -1,10 +1,12 @@
 # -*- coding: utf-8 -*-
-"""
-Contains basic cache types, including LRU.
+"""\
+Contains fundamental cache types, including LRU (Least-recently
+used) and LRI (Least-recently inserted).
+
+Learn more about `caching algorithms on Wikipedia
+<https://en.wikipedia.org/wiki/Cache_algorithms#Examples>`_.
 """
 
-
-import itertools
 from collections import deque
 
 try:
@@ -23,49 +25,15 @@ DEFAULT_MAX_SIZE = 128
 _MISSING = object()
 
 
-__all__ = ['BasicCache', 'LRU', 'DefaultLRU']
-
-
-# TODO: rename to LRI?
-# TODO: on_miss to default_factory
-class BasicCache(dict):
-    """\
-    a.k.a, SizeLimitedDefaultDict. LRI/Least Recently Inserted.
-
-    `on_miss` is a callable that accepts the missing key (as opposed
-    to default_factory which accepts no arguments.
-    """
-    def __init__(self, on_miss, max_size=DEFAULT_MAX_SIZE):
-        super(BasicCache, self).__init__()
-        self.max_size = max_size
-        self.on_miss = on_miss
-        self._queue = deque()
-
-    def __missing__(self, key):
-        ret = self.on_miss(key)
-        self[key] = ret
-        self._queue.append(key)
-        if len(self._queue) > self.max_size:
-            old = self._queue.popleft()
-            del self[old]
-        return ret
-
-    try:
-        from collections import defaultdict
-    except ImportError:
-        # no defaultdict means that __missing__ isn't supported in
-        # this version of python, so we define __getitem__
-        def __getitem__(self, key):
-            try:
-                return super(BasicCache, self).__getitem__(key)
-            except KeyError:
-                return self.__missing__(key)
-    else:
-        del defaultdict
+__all__ = ['LRI', 'LRU']
 
 
 class LRU(dict):
-    def __init__(self, max_size=DEFAULT_MAX_SIZE, values=None):
+    """\
+    The ``LRU`` implements
+    """
+    def __init__(self, max_size=DEFAULT_MAX_SIZE, values=None,
+                 on_miss=None):
         if max_size <= 0:
             raise ValueError('expected max_size > 0, not %r' % max_size)
         self.hit_count = self.miss_count = self.soft_miss_count = 0
@@ -76,6 +44,11 @@ class LRU(dict):
         self.root = root
         self.lock = RLock()
 
+        if on_miss is not None and not callable(on_miss):
+            raise TypeError('expected on_miss to be a callable'
+                            ' (or None), not %r' % on_miss)
+        self.on_miss = on_miss
+
         if values:
             self.update(values)
 
@@ -202,26 +175,13 @@ class LRU(dict):
     def __repr__(self):
         cn = self.__class__.__name__
         val_map = super(LRU, self).__repr__()
-        return '%s(max_size=%r, values=%r)' % (cn, self.max_size, val_map)
-
-
-class DefaultLRU(LRU):
-    """\
-    Like a defaultdict, but for the LRU cache. If set, the
-    `default_factory` is called on misses and assigned to the missing
-    key.
-    """
-    def __init__(self, default_factory=None, *args, **kwargs):
-        if default_factory is not None and not callable(default_factory):
-            raise TypeError('expected default_factory to be a callable'
-                            ' (or None), not %r' % default_factory)
-        self.default_factory = default_factory
-        super(DefaultLRU, self).__init__(*args, **kwargs)
+        return ('%s(max_size=%r, on_miss=%r, values=%r)'
+                % (cn, self.on_miss, self.max_size, val_map))
 
     def __missing__(self, key):
-        if not self.default_factory:
+        if not self.on_miss:
             raise KeyError(key)
-        ret = self.default_factory()
+        ret = self.on_miss(key)
         self.soft_miss += 1
         self[key] = ret
         return ret
@@ -233,25 +193,68 @@ class DefaultLRU(LRU):
         # this version of python, so we define __getitem__
         def __getitem__(self, key):
             try:
-                return super(DefaultLRU, self).__getitem__(key)
+                return super(LRU, self).__getitem__(key)
             except KeyError:
-                if self.default_factory:
+                if self.on_miss:
                     return self.__missing__(key)
                 raise
     else:
         del defaultdict
 
 
-def test_basic_cache():
+class LRI(dict):
+    """\
+    The LRI implements the basic Least Recently Inserted strategy to
+    caching. One could also think of this as a SizeLimitedDefaultDict.
+
+    ``on_miss`` is a callable that accepts the missing key (as
+    opposed to on_miss which accepts no arguments.)
+    """
+    def __init__(self, max_size=DEFAULT_MAX_SIZE, values=None,
+                 on_miss=None):
+        super(LRI, self).__init__()
+        self.max_size = max_size
+        self.on_miss = on_miss
+        self._queue = deque()
+
+        if values:
+            self.update(values)
+
+    def __missing__(self, key):
+        if not self.on_miss:
+            raise KeyError(key)
+        ret = self.on_miss(key)
+        self[key] = ret
+        self._queue.append(key)
+        if len(self._queue) > self.max_size:
+            old = self._queue.popleft()
+            del self[old]
+        return ret
+
+    try:
+        from collections import defaultdict
+    except ImportError:
+        # no defaultdict means that __missing__ isn't supported in
+        # this version of python, so we define __getitem__
+        def __getitem__(self, key):
+            try:
+                return super(LRI, self).__getitem__(key)
+            except KeyError:
+                return self.__missing__(key)
+    else:
+        del defaultdict
+
+
+def _test_lri():
     import string
-    bc = BasicCache(10, lambda k: k.upper())
+    bc = LRI(10, on_miss=lambda k: k.upper())
     for char in string.letters:
         x = bc[char]
         assert x == char.upper()
     assert len(bc) == 10
 
 
-def test_lru_cache():
+def _test_lru():
     lru = LRU(max_size=1)
     lru['hi'] = 0
     lru['bye'] = 1
@@ -264,4 +267,5 @@ def test_lru_cache():
 
 
 if __name__ == '__main__':
-    test_lru_cache()
+    _test_lri()
+    _test_lru()