The plugin works on a new Wp 3.5 installation without any problems.
I just set it up according to the how-tows, enabled it and have response times round 1.second (up to 15sec. bevore).
The best is that loged in users are not cached so working inside WP is painless.
Comments show up immediately even with enabled cache.
Some annotations after 9 Months:
Updating the plugin may caouse a white sreen both on BE and FE, in my experience its better to manually deinstall and then perform an install from scratch with the new version. It adds only 10 minutes and I'm shure that it performs well.
I too switched from disk cache to memcached + cdn - works fine!