1. A cascaded interconnect system comprising: a memory controller for generating data read requests, the controller operable with indeterminate data response times; one or more memory modules for processing the data read requests, each memory module including one or more memory devices, wherein at least one of the memory modules includes a data compression module for compressing and decompressing at least a subset of the data read from and written to at least a subset of the one or more memory devices; an upstream memory bus; and a downstream memory bus, wherein the memory modules and the memory controller are interconnected by a packetized multi-transfer interface via the downstream memory bus and the upstream memory bus, and data responses to the data read requests accessed via the data compression module include tag information to correlate the data responses to the data read requests.