It works on the latest wordpress 3.2.1
By my reckoning, out of all the caching plugins out there, Quick Cache is by the the easiest to setup, also good performer, and has little to no conflict with other plugins i find.
W3 Total Cache on the other hand is more complicating to setup. But it has some nice features that quick cache lacks, such as CDN, and Minify. However those options are also available separately via other plugins, although it would be nice if Quick Cache at least added CDN option especially for cloudflare which is a free service. When using this plugin, instantly there were problems as it conflicted with some of my other plugins. I run at least 30 or more plugins on my site. I didn't have such an issue when using Quick Cache.
So i do think there is room for Quick Cache to improve, but bottom line is, Quick Cache is the best when it comes down to east setup and having no bugs. Just because it is easy to setup does not mean it's a slouch. It's a very good performer as well.
I also like the changelogs and other notes which are very descriptive and educates it's users about the plugin and how it works.
I was a bit flabbergasted why not long ago the plugin was removed from the wordpress plugin page seeing as how good this plugin is.
Anyways kudos to the programmers.
PS: you can test using these following sites how quick cache stacks up against other wordpress cache plugin alternatives