Well, this is one area where you will want to set it to be pretty short.  The reason for that, is that some queries will be cached, but not retrieved from cache (for example, date dependant queries).  So to keep the memory from spiraling out of control, you'll want to keep TTL down to a reasonable figure.  There are checks for content items with dates, so those queries won't be cached, but other 3pd components may have queries that change over time.

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