There is a bit of lag before I see any content. After that, things load pretty quickly.
If you can cut that load time a bit it would be great, but it's definitely not in the 'terrible' category.
BUt speed is definitely an important consideration - especially if you're a business, every little thing you can do helps!
There are many considerations to speed aside from caching. Your host plays a huge part of that, with some hosts (especially on shared hosting) you can only do so much. You have no control over your actual server.
Other things include plugin usage, the theme, and optimisation thereof