Using cache functions with plugins or custom functions

I am writing some custom functions in my themes’ functions.php file.

In particular, I am looking to customize my archive display, so I intend to create my own query to get the results back directly.

In looking at wp_get_archives in general-template.php, I see the following cache logic:

if ( !isset( $cache[ $key ] ) ) {
	$arcresults = $wpdb->get_results($query);
	$cache[ $key ] = $arcresults;
	wp_cache_add( 'wp_get_archives', $cache, 'general' );
} else {
	$arcresults = $cache[ $key ];
}

So, I’m curious…for my custom function(s) (or for anyone doing custom queries for plugins), should we/I be using similar logic to store/retrieve results from cache?