Not only would you get rid of network latency, you would also vastly reduce your dependencies.
I have a side project to try to see if I can build a minimal micro-blogging type server application on sqlite and try to test how many requests it can handle per second (reads and writes).
I have a hunch it will be able to handle quite a lot. Specially if the server code is written in a fast language that compiles to native code (e.g. D) with some caching of the most commonly requested items in memory.