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Much work in the analysis of proxy caching has focused on high-level metrics such as hit rates, and has approximated actual reference patterns by ignoring exceptional cases such as connection aborts. Several of these low-level details have a strong impact on performance, particularly in heterogeneous bandwidth environments such as modem pools connected to faster networks. Trace-driven simulation of the modem pool of a large ISP suggests that "cookies" dramatically affect the cachability of resources; wasted bandwidth due to aborted connections can more than offset the savings from cached documents; and using a proxy to keep from repeatedly opening new TCP connections can reduce latency more than simply caching data.
Cáceres et al. (Tue,) studied this question.