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My experience has been that enabling cache (even for just 5 minutes) expands all the flyout menus, creating a very ugly looking page, not to mention the apparent change in functionality.
Even in a very small forum, there seems to be a huge number of objects being loaded (I've seen 100 - 200 objects loading - and the page load still isn't completely rendered!) The number of queries isn't what's slowing it down (only 60 queries on my main page) At the current usage of our site, this is not an immediate concern. But, as usage grows, I do see the server load becoming an issue, and the slow page loads a useability issue.
I like the functionality NewBB2 provides, and it fills the bill for our organization. I'm hoping for some optimization to speed things up.
Steve