I was able to turn on Views caching (both time-based for a few, and content-based for others) successfully. However, for my "taxonomy/term/%" pages (and their respective "/feed? pages as well) if I turn on any kind of caching, I get an empty page. Not the WSOD, but just the title and no listings. Further, the pager is all screwy - the page numbers point to pages for OTHER taxonomy terms. I can't seem to find a pattern.
I did find this discussion on d.o but it's not much help: http://drupal.org/node/1430650
What's killing me is that these pages are seriously about 98% of my site's traffic - literally tens of thousands of page views per day. If I can get these cached it would give me a huge performance increase.