save views->execute result as a static variable
It heavily depends on what you're trying to achieve with caching.
If you're trying to avoid additional DB queries, you won't be adding much here. The view::execute() &amp; view::render() are already making use of its own caching system (if it's enabled on the view in question).
If you're trying to avoid all the theme/module hook execution overhead, yeah that will avoid it. Of course, the trade-off is modules/themes won't be able to modify a view (if that's needed) and you'll have to handle other cache invalidation scenarios as a result of your custom caching.
You'll have to make the call depending on how/what you're trying to optimize it that's worth the trade-off (generally, I would say no but that's opinion).