diff --git a/README.rst b/README.rst
index e975da8162..b9c854ad48 100644
--- a/README.rst
+++ b/README.rst
@@ -146,6 +146,7 @@ To install the synapse homeserver run::
 
     virtualenv -p python2.7 ~/.synapse
     source ~/.synapse/bin/activate
+    pip install --upgrade pip
     pip install --upgrade setuptools
     pip install https://github.com/matrix-org/synapse/tarball/master
 
@@ -228,6 +229,7 @@ To get started, it is easiest to use the command line to register new users::
     New user localpart: erikj
     Password:
     Confirm password:
+    Make admin [no]:
     Success!
 
 This process uses a setting ``registration_shared_secret`` in
diff --git a/docs/log_contexts.rst b/docs/log_contexts.rst
index 8d04a973de..eb1784e700 100644
--- a/docs/log_contexts.rst
+++ b/docs/log_contexts.rst
@@ -204,9 +204,14 @@ That doesn't follow the rules, but we can fix it by wrapping it with
 This technique works equally for external functions which return deferreds,
 or deferreds we have made ourselves.
 
-XXX: think this is what ``preserve_context_over_deferred`` is supposed to do,
-though it is broken, in that it only restores the logcontext for the duration
-of the callbacks, which doesn't comply with the logcontext rules.
+You can also use ``logcontext.make_deferred_yieldable``, which just does the
+boilerplate for you, so the above could be written:
+
+.. code:: python
+
+    def sleep(seconds):
+        return logcontext.make_deferred_yieldable(get_sleep_deferred(seconds))
+
 
 Fire-and-forget
 ---------------
diff --git a/synapse/app/synctl.py b/synapse/app/synctl.py
index c045588866..23eb6a1ec4 100755
--- a/synapse/app/synctl.py
+++ b/synapse/app/synctl.py
@@ -23,14 +23,27 @@ import signal
 import subprocess
 import sys
 import yaml
+import errno
+import time
 
 SYNAPSE = [sys.executable, "-B", "-m", "synapse.app.homeserver"]
 
 GREEN = "\x1b[1;32m"
+YELLOW = "\x1b[1;33m"
 RED = "\x1b[1;31m"
 NORMAL = "\x1b[m"
 
 
+def pid_running(pid):
+    try:
+        os.kill(pid, 0)
+        return True
+    except OSError, err:
+        if err.errno == errno.EPERM:
+            return True
+        return False
+
+
 def write(message, colour=NORMAL, stream=sys.stdout):
     if colour == NORMAL:
         stream.write(message + "\n")
@@ -38,6 +51,11 @@ def write(message, colour=NORMAL, stream=sys.stdout):
         stream.write(colour + message + NORMAL + "\n")
 
 
+def abort(message, colour=RED, stream=sys.stderr):
+    write(message, colour, stream)
+    sys.exit(1)
+
+
 def start(configfile):
     write("Starting ...")
     args = SYNAPSE
@@ -45,7 +63,8 @@ def start(configfile):
 
     try:
         subprocess.check_call(args)
-        write("started synapse.app.homeserver(%r)" % (configfile,), colour=GREEN)
+        write("started synapse.app.homeserver(%r)" %
+              (configfile,), colour=GREEN)
     except subprocess.CalledProcessError as e:
         write(
             "error starting (exit code: %d); see above for logs" % e.returncode,
@@ -76,8 +95,16 @@ def start_worker(app, configfile, worker_configfile):
 def stop(pidfile, app):
     if os.path.exists(pidfile):
         pid = int(open(pidfile).read())
-        os.kill(pid, signal.SIGTERM)
-        write("stopped %s" % (app,), colour=GREEN)
+        try:
+            os.kill(pid, signal.SIGTERM)
+            write("stopped %s" % (app,), colour=GREEN)
+        except OSError, err:
+            if err.errno == errno.ESRCH:
+                write("%s not running" % (app,), colour=YELLOW)
+            elif err.errno == errno.EPERM:
+                abort("Cannot stop %s: Operation not permitted" % (app,))
+            else:
+                abort("Cannot stop %s: Unknown error" % (app,))
 
 
 Worker = collections.namedtuple("Worker", [
@@ -190,7 +217,19 @@ def main():
         if start_stop_synapse:
             stop(pidfile, "synapse.app.homeserver")
 
-        # TODO: Wait for synapse to actually shutdown before starting it again
+    # Wait for synapse to actually shutdown before starting it again
+    if action == "restart":
+        running_pids = []
+        if start_stop_synapse and os.path.exists(pidfile):
+            running_pids.append(int(open(pidfile).read()))
+        for worker in workers:
+            if os.path.exists(worker.pidfile):
+                running_pids.append(int(open(worker.pidfile).read()))
+        if len(running_pids) > 0:
+            write("Waiting for process to exit before restarting...")
+            for running_pid in running_pids:
+                while pid_running(running_pid):
+                    time.sleep(0.2)
 
     if action == "start" or action == "restart":
         if start_stop_synapse:
diff --git a/synapse/appservice/__init__.py b/synapse/appservice/__init__.py
index b0106a3597..7346206bb1 100644
--- a/synapse/appservice/__init__.py
+++ b/synapse/appservice/__init__.py
@@ -13,6 +13,7 @@
 # See the License for the specific language governing permissions and
 # limitations under the License.
 from synapse.api.constants import EventTypes
+from synapse.util.caches.descriptors import cachedInlineCallbacks
 
 from twisted.internet import defer
 
@@ -124,29 +125,23 @@ class ApplicationService(object):
                     raise ValueError(
                         "Expected bool for 'exclusive' in ns '%s'" % ns
                     )
-                if not isinstance(regex_obj.get("regex"), basestring):
+                regex = regex_obj.get("regex")
+                if isinstance(regex, basestring):
+                    regex_obj["regex"] = re.compile(regex)  # Pre-compile regex
+                else:
                     raise ValueError(
                         "Expected string for 'regex' in ns '%s'" % ns
                     )
         return namespaces
 
-    def _matches_regex(self, test_string, namespace_key, return_obj=False):
-        if not isinstance(test_string, basestring):
-            logger.error(
-                "Expected a string to test regex against, but got %s",
-                test_string
-            )
-            return False
-
+    def _matches_regex(self, test_string, namespace_key):
         for regex_obj in self.namespaces[namespace_key]:
-            if re.match(regex_obj["regex"], test_string):
-                if return_obj:
-                    return regex_obj
-                return True
-        return False
+            if regex_obj["regex"].match(test_string):
+                return regex_obj
+        return None
 
     def _is_exclusive(self, ns_key, test_string):
-        regex_obj = self._matches_regex(test_string, ns_key, return_obj=True)
+        regex_obj = self._matches_regex(test_string, ns_key)
         if regex_obj:
             return regex_obj["exclusive"]
         return False
@@ -166,7 +161,14 @@ class ApplicationService(object):
         if not store:
             defer.returnValue(False)
 
-        member_list = yield store.get_users_in_room(event.room_id)
+        does_match = yield self._matches_user_in_member_list(event.room_id, store)
+        defer.returnValue(does_match)
+
+    @cachedInlineCallbacks(num_args=1, cache_context=True)
+    def _matches_user_in_member_list(self, room_id, store, cache_context):
+        member_list = yield store.get_users_in_room(
+            room_id, on_invalidate=cache_context.invalidate
+        )
 
         # check joined member events
         for user_id in member_list:
@@ -219,10 +221,10 @@ class ApplicationService(object):
         )
 
     def is_interested_in_alias(self, alias):
-        return self._matches_regex(alias, ApplicationService.NS_ALIASES)
+        return bool(self._matches_regex(alias, ApplicationService.NS_ALIASES))
 
     def is_interested_in_room(self, room_id):
-        return self._matches_regex(room_id, ApplicationService.NS_ROOMS)
+        return bool(self._matches_regex(room_id, ApplicationService.NS_ROOMS))
 
     def is_exclusive_user(self, user_id):
         return (
diff --git a/synapse/federation/send_queue.py b/synapse/federation/send_queue.py
index 5c9f7a86f0..bbb0195228 100644
--- a/synapse/federation/send_queue.py
+++ b/synapse/federation/send_queue.py
@@ -54,6 +54,7 @@ class FederationRemoteSendQueue(object):
     def __init__(self, hs):
         self.server_name = hs.hostname
         self.clock = hs.get_clock()
+        self.notifier = hs.get_notifier()
 
         self.presence_map = {}
         self.presence_changed = sorteddict()
@@ -186,6 +187,8 @@ class FederationRemoteSendQueue(object):
         else:
             self.edus[pos] = edu
 
+        self.notifier.on_new_replication_data()
+
     def send_presence(self, destination, states):
         """As per TransactionQueue"""
         pos = self._next_pos()
@@ -199,16 +202,20 @@ class FederationRemoteSendQueue(object):
             (destination, state.user_id) for state in states
         ]
 
+        self.notifier.on_new_replication_data()
+
     def send_failure(self, failure, destination):
         """As per TransactionQueue"""
         pos = self._next_pos()
 
         self.failures[pos] = (destination, str(failure))
+        self.notifier.on_new_replication_data()
 
     def send_device_messages(self, destination):
         """As per TransactionQueue"""
         pos = self._next_pos()
         self.device_messages[pos] = destination
+        self.notifier.on_new_replication_data()
 
     def get_current_token(self):
         return self.pos - 1
diff --git a/synapse/federation/transaction_queue.py b/synapse/federation/transaction_queue.py
index d7ecefcc64..c27ce7c5f3 100644
--- a/synapse/federation/transaction_queue.py
+++ b/synapse/federation/transaction_queue.py
@@ -22,7 +22,7 @@ from .units import Transaction, Edu
 from synapse.api.errors import HttpResponseException
 from synapse.util.async import run_on_reactor
 from synapse.util.logcontext import preserve_context_over_fn
-from synapse.util.retryutils import NotRetryingDestination
+from synapse.util.retryutils import NotRetryingDestination, get_retry_limiter
 from synapse.util.metrics import measure_func
 from synapse.types import get_domain_from_id
 from synapse.handlers.presence import format_user_presence_state
@@ -303,12 +303,19 @@ class TransactionQueue(object):
             )
             return
 
+        pending_pdus = []
         try:
             self.pending_transactions[destination] = 1
 
+            # This will throw if we wouldn't retry. We do this here so we fail
+            # quickly, but we will later check this again in the http client,
+            # hence why we throw the result away.
+            yield get_retry_limiter(destination, self.clock, self.store)
+
             # XXX: what's this for?
             yield run_on_reactor()
 
+            pending_pdus = []
             while True:
                 device_message_edus, device_stream_id, dev_list_id = (
                     yield self._get_new_device_messages(destination)
@@ -397,7 +404,7 @@ class TransactionQueue(object):
                 destination,
                 e,
             )
-            for p in pending_pdus:
+            for p, _ in pending_pdus:
                 logger.info("Failed to send event %s to %s", p.event_id,
                             destination)
         finally:
diff --git a/synapse/push/push_rule_evaluator.py b/synapse/push/push_rule_evaluator.py
index 4db76f18bd..4d88046579 100644
--- a/synapse/push/push_rule_evaluator.py
+++ b/synapse/push/push_rule_evaluator.py
@@ -17,6 +17,7 @@ import logging
 import re
 
 from synapse.types import UserID
+from synapse.util.caches import CACHE_SIZE_FACTOR, register_cache
 from synapse.util.caches.lrucache import LruCache
 
 logger = logging.getLogger(__name__)
@@ -125,6 +126,11 @@ class PushRuleEvaluatorForEvent(object):
         return self._value_cache.get(dotted_key, None)
 
 
+# Caches (glob, word_boundary) -> regex for push. See _glob_matches
+regex_cache = LruCache(50000 * CACHE_SIZE_FACTOR)
+register_cache("regex_push_cache", regex_cache)
+
+
 def _glob_matches(glob, value, word_boundary=False):
     """Tests if value matches glob.
 
@@ -137,46 +143,63 @@ def _glob_matches(glob, value, word_boundary=False):
     Returns:
         bool
     """
+
     try:
-        if IS_GLOB.search(glob):
-            r = re.escape(glob)
-
-            r = r.replace(r'\*', '.*?')
-            r = r.replace(r'\?', '.')
-
-            # handle [abc], [a-z] and [!a-z] style ranges.
-            r = GLOB_REGEX.sub(
-                lambda x: (
-                    '[%s%s]' % (
-                        x.group(1) and '^' or '',
-                        x.group(2).replace(r'\\\-', '-')
-                    )
-                ),
-                r,
-            )
-            if word_boundary:
-                r = r"\b%s\b" % (r,)
-                r = _compile_regex(r)
-
-                return r.search(value)
-            else:
-                r = r + "$"
-                r = _compile_regex(r)
-
-                return r.match(value)
-        elif word_boundary:
-            r = re.escape(glob)
-            r = r"\b%s\b" % (r,)
-            r = _compile_regex(r)
-
-            return r.search(value)
-        else:
-            return value.lower() == glob.lower()
+        r = regex_cache.get((glob, word_boundary), None)
+        if not r:
+            r = _glob_to_re(glob, word_boundary)
+            regex_cache[(glob, word_boundary)] = r
+        return r.search(value)
     except re.error:
         logger.warn("Failed to parse glob to regex: %r", glob)
         return False
 
 
+def _glob_to_re(glob, word_boundary):
+    """Generates regex for a given glob.
+
+    Args:
+        glob (string)
+        word_boundary (bool): Whether to match against word boundaries or entire
+            string. Defaults to False.
+
+    Returns:
+        regex object
+    """
+    if IS_GLOB.search(glob):
+        r = re.escape(glob)
+
+        r = r.replace(r'\*', '.*?')
+        r = r.replace(r'\?', '.')
+
+        # handle [abc], [a-z] and [!a-z] style ranges.
+        r = GLOB_REGEX.sub(
+            lambda x: (
+                '[%s%s]' % (
+                    x.group(1) and '^' or '',
+                    x.group(2).replace(r'\\\-', '-')
+                )
+            ),
+            r,
+        )
+        if word_boundary:
+            r = r"\b%s\b" % (r,)
+
+            return re.compile(r, flags=re.IGNORECASE)
+        else:
+            r = "^" + r + "$"
+
+            return re.compile(r, flags=re.IGNORECASE)
+    elif word_boundary:
+        r = re.escape(glob)
+        r = r"\b%s\b" % (r,)
+
+        return re.compile(r, flags=re.IGNORECASE)
+    else:
+        r = "^" + re.escape(glob) + "$"
+        return re.compile(r, flags=re.IGNORECASE)
+
+
 def _flatten_dict(d, prefix=[], result={}):
     for key, value in d.items():
         if isinstance(value, basestring):
@@ -185,16 +208,3 @@ def _flatten_dict(d, prefix=[], result={}):
             _flatten_dict(value, prefix=(prefix + [key]), result=result)
 
     return result
-
-
-regex_cache = LruCache(5000)
-
-
-def _compile_regex(regex_str):
-    r = regex_cache.get(regex_str, None)
-    if r:
-        return r
-
-    r = re.compile(regex_str, flags=re.IGNORECASE)
-    regex_cache[regex_str] = r
-    return r
diff --git a/synapse/push/push_tools.py b/synapse/push/push_tools.py
index 287df94b4f..6835f54e97 100644
--- a/synapse/push/push_tools.py
+++ b/synapse/push/push_tools.py
@@ -17,15 +17,12 @@ from twisted.internet import defer
 from synapse.push.presentable_names import (
     calculate_room_name, name_from_member_event
 )
-from synapse.util.logcontext import preserve_fn, preserve_context_over_deferred
 
 
 @defer.inlineCallbacks
 def get_badge_count(store, user_id):
-    invites, joins = yield preserve_context_over_deferred(defer.gatherResults([
-        preserve_fn(store.get_invited_rooms_for_user)(user_id),
-        preserve_fn(store.get_rooms_for_user)(user_id),
-    ], consumeErrors=True))
+    invites = yield store.get_invited_rooms_for_user(user_id)
+    joins = yield store.get_rooms_for_user(user_id)
 
     my_receipts_by_room = yield store.get_receipts_for_user(
         user_id, "m.read",
diff --git a/synapse/state.py b/synapse/state.py
index 9a523a1b89..f6b83d888a 100644
--- a/synapse/state.py
+++ b/synapse/state.py
@@ -195,11 +195,11 @@ class StateHandler(object):
                     (s.type, s.state_key): s.event_id for s in old_state
                 }
                 if event.is_state():
-                    context.current_state_events = dict(context.prev_state_ids)
+                    context.current_state_ids = dict(context.prev_state_ids)
                     key = (event.type, event.state_key)
-                    context.current_state_events[key] = event.event_id
+                    context.current_state_ids[key] = event.event_id
                 else:
-                    context.current_state_events = context.prev_state_ids
+                    context.current_state_ids = context.prev_state_ids
             else:
                 context.current_state_ids = {}
                 context.prev_state_ids = {}
diff --git a/synapse/storage/devices.py b/synapse/storage/devices.py
index 6beeff8b00..53e36791d5 100644
--- a/synapse/storage/devices.py
+++ b/synapse/storage/devices.py
@@ -329,6 +329,7 @@ class DeviceStore(SQLBaseStore):
             SELECT user_id, device_id, max(stream_id) FROM device_lists_outbound_pokes
             WHERE destination = ? AND ? < stream_id AND stream_id <= ? AND sent = ?
             GROUP BY user_id, device_id
+            LIMIT 20
         """
         txn.execute(
             sql, (destination, from_stream_id, now_stream_id, False)
@@ -339,6 +340,9 @@ class DeviceStore(SQLBaseStore):
         if not query_map:
             return (now_stream_id, [])
 
+        if len(query_map) >= 20:
+            now_stream_id = max(stream_id for stream_id in query_map.itervalues())
+
         devices = self._get_e2e_device_keys_txn(
             txn, query_map.keys(), include_all_devices=True
         )
diff --git a/synapse/storage/end_to_end_keys.py b/synapse/storage/end_to_end_keys.py
index 58bde65b6c..7cbc1470fd 100644
--- a/synapse/storage/end_to_end_keys.py
+++ b/synapse/storage/end_to_end_keys.py
@@ -14,6 +14,8 @@
 # limitations under the License.
 from twisted.internet import defer
 
+from synapse.api.errors import SynapseError
+
 from canonicaljson import encode_canonical_json
 import ujson as json
 
@@ -120,24 +122,63 @@ class EndToEndKeyStore(SQLBaseStore):
 
         return result
 
+    @defer.inlineCallbacks
     def add_e2e_one_time_keys(self, user_id, device_id, time_now, key_list):
+        """Insert some new one time keys for a device.
+
+        Checks if any of the keys are already inserted, if they are then check
+        if they match. If they don't then we raise an error.
+        """
+
+        # First we check if we have already persisted any of the keys.
+        rows = yield self._simple_select_many_batch(
+            table="e2e_one_time_keys_json",
+            column="key_id",
+            iterable=[key_id for _, key_id, _ in key_list],
+            retcols=("algorithm", "key_id", "key_json",),
+            keyvalues={
+                "user_id": user_id,
+                "device_id": device_id,
+            },
+            desc="add_e2e_one_time_keys_check",
+        )
+
+        existing_key_map = {
+            (row["algorithm"], row["key_id"]): row["key_json"] for row in rows
+        }
+
+        new_keys = []  # Keys that we need to insert
+        for algorithm, key_id, json_bytes in key_list:
+            ex_bytes = existing_key_map.get((algorithm, key_id), None)
+            if ex_bytes:
+                if json_bytes != ex_bytes:
+                    raise SynapseError(
+                        400, "One time key with key_id %r already exists" % (key_id,)
+                    )
+            else:
+                new_keys.append((algorithm, key_id, json_bytes))
+
         def _add_e2e_one_time_keys(txn):
-            for (algorithm, key_id, json_bytes) in key_list:
-                self._simple_upsert_txn(
-                    txn, table="e2e_one_time_keys_json",
-                    keyvalues={
+            # We are protected from race between lookup and insertion due to
+            # a unique constraint. If there is a race of two calls to
+            # `add_e2e_one_time_keys` then they'll conflict and we will only
+            # insert one set.
+            self._simple_insert_many_txn(
+                txn, table="e2e_one_time_keys_json",
+                values=[
+                    {
                         "user_id": user_id,
                         "device_id": device_id,
                         "algorithm": algorithm,
                         "key_id": key_id,
-                    },
-                    values={
                         "ts_added_ms": time_now,
                         "key_json": json_bytes,
                     }
-                )
-        return self.runInteraction(
-            "add_e2e_one_time_keys", _add_e2e_one_time_keys
+                    for algorithm, key_id, json_bytes in new_keys
+                ],
+            )
+        yield self.runInteraction(
+            "add_e2e_one_time_keys_insert", _add_e2e_one_time_keys
         )
 
     def count_e2e_one_time_keys(self, user_id, device_id):
diff --git a/synapse/storage/event_federation.py b/synapse/storage/event_federation.py
index 43b5b49986..519059c306 100644
--- a/synapse/storage/event_federation.py
+++ b/synapse/storage/event_federation.py
@@ -152,7 +152,7 @@ class EventFederationStore(SQLBaseStore):
         txn.execute(sql, (room_id, ))
 
         results = []
-        for event_id, depth in txn:
+        for event_id, depth in txn.fetchall():
             hashes = self._get_event_reference_hashes_txn(txn, event_id)
             prev_hashes = {
                 k: encode_base64(v) for k, v in hashes.items()
diff --git a/synapse/storage/state.py b/synapse/storage/state.py
index 314216f039..fb23f6f462 100644
--- a/synapse/storage/state.py
+++ b/synapse/storage/state.py
@@ -496,7 +496,7 @@ class StateStore(SQLBaseStore):
         state_map = yield self.get_state_ids_for_events([event_id], types)
         defer.returnValue(state_map[event_id])
 
-    @cached(num_args=2, max_entries=10000)
+    @cached(num_args=2, max_entries=100000)
     def _get_state_group_for_event(self, room_id, event_id):
         return self._simple_select_one_onecol(
             table="event_to_state_groups",
diff --git a/synapse/types.py b/synapse/types.py
index 9666f9d73f..c87ed813b9 100644
--- a/synapse/types.py
+++ b/synapse/types.py
@@ -216,9 +216,7 @@ class StreamToken(
             return self
 
     def copy_and_replace(self, key, new_value):
-        d = self._asdict()
-        d[key] = new_value
-        return StreamToken(**d)
+        return self._replace(**{key: new_value})
 
 
 StreamToken.START = StreamToken(
diff --git a/synapse/util/async.py b/synapse/util/async.py
index 35380bf8ed..1453faf0ef 100644
--- a/synapse/util/async.py
+++ b/synapse/util/async.py
@@ -89,6 +89,11 @@ class ObservableDeferred(object):
         deferred.addCallbacks(callback, errback)
 
     def observe(self):
+        """Observe the underlying deferred.
+
+        Can return either a deferred if the underlying deferred is still pending
+        (or has failed), or the actual value. Callers may need to use maybeDeferred.
+        """
         if not self._result:
             d = defer.Deferred()
 
@@ -101,7 +106,7 @@ class ObservableDeferred(object):
             return d
         else:
             success, res = self._result
-            return defer.succeed(res) if success else defer.fail(res)
+            return res if success else defer.fail(res)
 
     def observers(self):
         return self._observers
diff --git a/synapse/util/caches/descriptors.py b/synapse/util/caches/descriptors.py
index 19595df422..9d0d0be1f9 100644
--- a/synapse/util/caches/descriptors.py
+++ b/synapse/util/caches/descriptors.py
@@ -15,12 +15,9 @@
 import logging
 
 from synapse.util.async import ObservableDeferred
-from synapse.util import unwrapFirstError
+from synapse.util import unwrapFirstError, logcontext
 from synapse.util.caches.lrucache import LruCache
 from synapse.util.caches.treecache import TreeCache, iterate_tree_cache_entry
-from synapse.util.logcontext import (
-    PreserveLoggingContext, preserve_context_over_deferred, preserve_context_over_fn
-)
 
 from . import DEBUG_CACHES, register_cache
 
@@ -227,8 +224,20 @@ class _CacheDescriptorBase(object):
             )
 
         self.num_args = num_args
+
+        # list of the names of the args used as the cache key
         self.arg_names = all_args[1:num_args + 1]
 
+        # self.arg_defaults is a map of arg name to its default value for each
+        # argument that has a default value
+        if arg_spec.defaults:
+            self.arg_defaults = dict(zip(
+                all_args[-len(arg_spec.defaults):],
+                arg_spec.defaults
+            ))
+        else:
+            self.arg_defaults = {}
+
         if "cache_context" in self.arg_names:
             raise Exception(
                 "cache_context arg cannot be included among the cache keys"
@@ -292,18 +301,31 @@ class CacheDescriptor(_CacheDescriptorBase):
             iterable=self.iterable,
         )
 
+        def get_cache_key(args, kwargs):
+            """Given some args/kwargs return a generator that resolves into
+            the cache_key.
+
+            We loop through each arg name, looking up if its in the `kwargs`,
+            otherwise using the next argument in `args`. If there are no more
+            args then we try looking the arg name up in the defaults
+            """
+            pos = 0
+            for nm in self.arg_names:
+                if nm in kwargs:
+                    yield kwargs[nm]
+                elif pos < len(args):
+                    yield args[pos]
+                    pos += 1
+                else:
+                    yield self.arg_defaults[nm]
+
         @functools.wraps(self.orig)
         def wrapped(*args, **kwargs):
             # If we're passed a cache_context then we'll want to call its invalidate()
             # whenever we are invalidated
             invalidate_callback = kwargs.pop("on_invalidate", None)
 
-            # Add temp cache_context so inspect.getcallargs doesn't explode
-            if self.add_cache_context:
-                kwargs["cache_context"] = None
-
-            arg_dict = inspect.getcallargs(self.orig, obj, *args, **kwargs)
-            cache_key = tuple(arg_dict[arg_nm] for arg_nm in self.arg_names)
+            cache_key = tuple(get_cache_key(args, kwargs))
 
             # Add our own `cache_context` to argument list if the wrapped function
             # has asked for one
@@ -328,11 +350,9 @@ class CacheDescriptor(_CacheDescriptorBase):
                         defer.returnValue(cached_result)
                     observer.addCallback(check_result)
 
-                return preserve_context_over_deferred(observer)
             except KeyError:
                 ret = defer.maybeDeferred(
-                    preserve_context_over_fn,
-                    self.function_to_call,
+                    logcontext.preserve_fn(self.function_to_call),
                     obj, *args, **kwargs
                 )
 
@@ -342,10 +362,14 @@ class CacheDescriptor(_CacheDescriptorBase):
 
                 ret.addErrback(onErr)
 
-                ret = ObservableDeferred(ret, consumeErrors=True)
-                cache.set(cache_key, ret, callback=invalidate_callback)
+                result_d = ObservableDeferred(ret, consumeErrors=True)
+                cache.set(cache_key, result_d, callback=invalidate_callback)
+                observer = result_d.observe()
 
-                return preserve_context_over_deferred(ret.observe())
+            if isinstance(observer, defer.Deferred):
+                return logcontext.make_deferred_yieldable(observer)
+            else:
+                return observer
 
         wrapped.invalidate = cache.invalidate
         wrapped.invalidate_all = cache.invalidate_all
@@ -362,7 +386,11 @@ class CacheListDescriptor(_CacheDescriptorBase):
     """Wraps an existing cache to support bulk fetching of keys.
 
     Given a list of keys it looks in the cache to find any hits, then passes
-    the list of missing keys to the wrapped fucntion.
+    the list of missing keys to the wrapped function.
+
+    Once wrapped, the function returns either a Deferred which resolves to
+    the list of results, or (if all results were cached), just the list of
+    results.
     """
 
     def __init__(self, orig, cached_method_name, list_name, num_args=None,
@@ -433,8 +461,7 @@ class CacheListDescriptor(_CacheDescriptorBase):
                 args_to_call[self.list_name] = missing
 
                 ret_d = defer.maybeDeferred(
-                    preserve_context_over_fn,
-                    self.function_to_call,
+                    logcontext.preserve_fn(self.function_to_call),
                     **args_to_call
                 )
 
@@ -443,8 +470,7 @@ class CacheListDescriptor(_CacheDescriptorBase):
                 # We need to create deferreds for each arg in the list so that
                 # we can insert the new deferred into the cache.
                 for arg in missing:
-                    with PreserveLoggingContext():
-                        observer = ret_d.observe()
+                    observer = ret_d.observe()
                     observer.addCallback(lambda r, arg: r.get(arg, None), arg)
 
                     observer = ObservableDeferred(observer)
@@ -471,7 +497,7 @@ class CacheListDescriptor(_CacheDescriptorBase):
                     results.update(res)
                     return results
 
-                return preserve_context_over_deferred(defer.gatherResults(
+                return logcontext.make_deferred_yieldable(defer.gatherResults(
                     cached_defers.values(),
                     consumeErrors=True,
                 ).addCallback(update_results_dict).addErrback(
diff --git a/synapse/util/logcontext.py b/synapse/util/logcontext.py
index ff67b1d794..857afee7cb 100644
--- a/synapse/util/logcontext.py
+++ b/synapse/util/logcontext.py
@@ -310,6 +310,10 @@ def preserve_context_over_fn(fn, *args, **kwargs):
 def preserve_context_over_deferred(deferred, context=None):
     """Given a deferred wrap it such that any callbacks added later to it will
     be invoked with the current context.
+
+    Deprecated: this almost certainly doesn't do want you want, ie make
+    the deferred follow the synapse logcontext rules: try
+    ``make_deferred_yieldable`` instead.
     """
     if context is None:
         context = LoggingContext.current_context()
@@ -359,6 +363,25 @@ def preserve_fn(f):
     return g
 
 
+@defer.inlineCallbacks
+def make_deferred_yieldable(deferred):
+    """Given a deferred, make it follow the Synapse logcontext rules:
+
+    If the deferred has completed (or is not actually a Deferred), essentially
+    does nothing (just returns another completed deferred with the
+    result/failure).
+
+    If the deferred has not yet completed, resets the logcontext before
+    returning a deferred. Then, when the deferred completes, restores the
+    current logcontext before running callbacks/errbacks.
+
+    (This is more-or-less the opposite operation to preserve_fn.)
+    """
+    with PreserveLoggingContext():
+        r = yield deferred
+    defer.returnValue(r)
+
+
 # modules to ignore in `logcontext_tracer`
 _to_ignore = [
     "synapse.util.logcontext",
diff --git a/synapse/visibility.py b/synapse/visibility.py
index 31659156ae..c4dd9ae2c7 100644
--- a/synapse/visibility.py
+++ b/synapse/visibility.py
@@ -56,7 +56,8 @@ def filter_events_for_clients(store, user_tuples, events, event_id_to_state):
         events ([synapse.events.EventBase]): list of events to filter
     """
     forgotten = yield preserve_context_over_deferred(defer.gatherResults([
-        preserve_fn(store.who_forgot_in_room)(
+        defer.maybeDeferred(
+            preserve_fn(store.who_forgot_in_room),
             room_id,
         )
         for room_id in frozenset(e.room_id for e in events)
diff --git a/tests/appservice/test_appservice.py b/tests/appservice/test_appservice.py
index aa8cc50550..7586ea9053 100644
--- a/tests/appservice/test_appservice.py
+++ b/tests/appservice/test_appservice.py
@@ -19,10 +19,12 @@ from twisted.internet import defer
 from mock import Mock
 from tests import unittest
 
+import re
+
 
 def _regex(regex, exclusive=True):
     return {
-        "regex": regex,
+        "regex": re.compile(regex),
         "exclusive": exclusive
     }
 
diff --git a/tests/storage/test__base.py b/tests/storage/test__base.py
index 8361dd8cee..281eb16254 100644
--- a/tests/storage/test__base.py
+++ b/tests/storage/test__base.py
@@ -199,7 +199,7 @@ class CacheDecoratorTestCase(unittest.TestCase):
 
         a.func.prefill(("foo",), ObservableDeferred(d))
 
-        self.assertEquals(a.func("foo").result, d.result)
+        self.assertEquals(a.func("foo"), d.result)
         self.assertEquals(callcount[0], 0)
 
     @defer.inlineCallbacks
diff --git a/tests/util/caches/test_descriptors.py b/tests/util/caches/test_descriptors.py
index 419281054d..3f14ab503f 100644
--- a/tests/util/caches/test_descriptors.py
+++ b/tests/util/caches/test_descriptors.py
@@ -12,11 +12,18 @@
 # WITHOUT WARRANTIES OR CONDITIONS OF ANY KIND, either express or implied.
 # See the License for the specific language governing permissions and
 # limitations under the License.
+import logging
+
 import mock
+from synapse.api.errors import SynapseError
+from synapse.util import async
+from synapse.util import logcontext
 from twisted.internet import defer
 from synapse.util.caches import descriptors
 from tests import unittest
 
+logger = logging.getLogger(__name__)
+
 
 class DescriptorTestCase(unittest.TestCase):
     @defer.inlineCallbacks
@@ -84,3 +91,125 @@ class DescriptorTestCase(unittest.TestCase):
         r = yield obj.fn(2, 5)
         self.assertEqual(r, 'chips')
         obj.mock.assert_not_called()
+
+    def test_cache_logcontexts(self):
+        """Check that logcontexts are set and restored correctly when
+        using the cache."""
+
+        complete_lookup = defer.Deferred()
+
+        class Cls(object):
+            @descriptors.cached()
+            def fn(self, arg1):
+                @defer.inlineCallbacks
+                def inner_fn():
+                    with logcontext.PreserveLoggingContext():
+                        yield complete_lookup
+                    defer.returnValue(1)
+
+                return inner_fn()
+
+        @defer.inlineCallbacks
+        def do_lookup():
+            with logcontext.LoggingContext() as c1:
+                c1.name = "c1"
+                r = yield obj.fn(1)
+                self.assertEqual(logcontext.LoggingContext.current_context(),
+                                 c1)
+            defer.returnValue(r)
+
+        def check_result(r):
+            self.assertEqual(r, 1)
+
+        obj = Cls()
+
+        # set off a deferred which will do a cache lookup
+        d1 = do_lookup()
+        self.assertEqual(logcontext.LoggingContext.current_context(),
+                         logcontext.LoggingContext.sentinel)
+        d1.addCallback(check_result)
+
+        # and another
+        d2 = do_lookup()
+        self.assertEqual(logcontext.LoggingContext.current_context(),
+                         logcontext.LoggingContext.sentinel)
+        d2.addCallback(check_result)
+
+        # let the lookup complete
+        complete_lookup.callback(None)
+
+        return defer.gatherResults([d1, d2])
+
+    def test_cache_logcontexts_with_exception(self):
+        """Check that the cache sets and restores logcontexts correctly when
+        the lookup function throws an exception"""
+
+        class Cls(object):
+            @descriptors.cached()
+            def fn(self, arg1):
+                @defer.inlineCallbacks
+                def inner_fn():
+                    yield async.run_on_reactor()
+                    raise SynapseError(400, "blah")
+
+                return inner_fn()
+
+        @defer.inlineCallbacks
+        def do_lookup():
+            with logcontext.LoggingContext() as c1:
+                c1.name = "c1"
+                try:
+                    yield obj.fn(1)
+                    self.fail("No exception thrown")
+                except SynapseError:
+                    pass
+
+                self.assertEqual(logcontext.LoggingContext.current_context(),
+                                 c1)
+
+        obj = Cls()
+
+        # set off a deferred which will do a cache lookup
+        d1 = do_lookup()
+        self.assertEqual(logcontext.LoggingContext.current_context(),
+                         logcontext.LoggingContext.sentinel)
+
+        return d1
+
+    @defer.inlineCallbacks
+    def test_cache_default_args(self):
+        class Cls(object):
+            def __init__(self):
+                self.mock = mock.Mock()
+
+            @descriptors.cached()
+            def fn(self, arg1, arg2=2, arg3=3):
+                return self.mock(arg1, arg2, arg3)
+
+        obj = Cls()
+
+        obj.mock.return_value = 'fish'
+        r = yield obj.fn(1, 2, 3)
+        self.assertEqual(r, 'fish')
+        obj.mock.assert_called_once_with(1, 2, 3)
+        obj.mock.reset_mock()
+
+        # a call with same params shouldn't call the mock again
+        r = yield obj.fn(1, 2)
+        self.assertEqual(r, 'fish')
+        obj.mock.assert_not_called()
+        obj.mock.reset_mock()
+
+        # a call with different params should call the mock again
+        obj.mock.return_value = 'chips'
+        r = yield obj.fn(2, 3)
+        self.assertEqual(r, 'chips')
+        obj.mock.assert_called_once_with(2, 3, 3)
+        obj.mock.reset_mock()
+
+        # the two values should now be cached
+        r = yield obj.fn(1, 2)
+        self.assertEqual(r, 'fish')
+        r = yield obj.fn(2, 3)
+        self.assertEqual(r, 'chips')
+        obj.mock.assert_not_called()
diff --git a/tests/util/test_snapshot_cache.py b/tests/util/test_snapshot_cache.py
index 7e289715ba..d3a8630c2f 100644
--- a/tests/util/test_snapshot_cache.py
+++ b/tests/util/test_snapshot_cache.py
@@ -53,7 +53,9 @@ class SnapshotCacheTestCase(unittest.TestCase):
         # before the cache expires returns a resolved deferred.
         get_result_at_11 = self.cache.get(11, "key")
         self.assertIsNotNone(get_result_at_11)
-        self.assertTrue(get_result_at_11.called)
+        if isinstance(get_result_at_11, Deferred):
+            # The cache may return the actual result rather than a deferred
+            self.assertTrue(get_result_at_11.called)
 
         # Check that getting the key after the deferred has resolved
         # after the cache expires returns None