Memristors theoretically go further than mere storage. They enable the idea of data storage and processors eventually becoming the same thing. I hope they continue with the work because some of what I was reading about it was fascinating - rather than have caches, you could, in theory, write temporary routines that ran in physical locality to the data they had to process.

You can already do that, it's just that dumb storage can be packed more densely than smart storage.

Memristors can make things more dense, but that applies to both options.