A larger one makes sense, as the cache uses up quite a bit of memory. I tried this, but once I debloated my Event, I didn't notice much difference, so I took off cache booster. Besides, it's not only memory that needs to be freed, it's also the CPU load that needs to be eased. As it is, many programs use internal storage as cache. That's been the case since ICS was released.
ICS shouldn't even be on this phone to begin with, as it takes up half the available memory by itself. Imagine if someone had a custom ROM for this phone... but Kyocera will most likely never unlock the bootloader for their phones.