Any similar caching plugin would you recommend instead?
Pro tip: If you have trouble measuring the effect of your caching plugin, it probably means its effect is neglegible.
If you really feel you need a caching plugin, WP Super Cache is written by the company that also writes Wordpress. I'd consider that the most trustworthy.
A properly set up caching plugin basically saves the pages as plain HTML and serve them with mod_rewrite instead of invoking PHP every time. The speed difference for an individual page load might not be that much for a properly optimized site, but the overall resource usage will be much lower.
Is that what you believe or do you have benchmark results?
That serving static files use less resources than firing up PHP should hardly be surprising.
Sure, mod_lsapi and FastCGI are fast, and opcache is a godsend, but static files are still going to be faster than doing multiple MySQL queries, triggering plugins, rendering the HTML, doing whatever post-processing the plugins do, and then serving the result.
You can also write a minimal cache system in just ~2/300 lines of PHP that is still very efficient. So efficient you can even survive a hug of death from HN on a tiny VPS without a blink. I did it.
Yet, people seems so attracted to those bloated "fastest" plugins...
Source: hoster
My first question to you would be "Why wouldn't you bypass PHP and MySQL if you can?".
For some really basic site sure, you can go without caching, but for any reasonable degree of complexity not using caching is a foolish waste of hardware and end-user patience since we can be talking TTFB of 100-200 ms vs up to seconds.
The closest thing you'll get to serverless wordpress in one click. There is no wordpress caching plug-in I am aware of that will get you anywhere near.
Edit: I've also used WP Super Cache and W3 Total Cache quite extensively, both both of these have on some sites had a tendency to randomly clear the cache and I've never managed to figure out why. Cache Enabler has never done this.