I just used lonestarseo’s method after migrating an existing WP installation to a new host and it worked perfectly. Thanks.
I wanted to clarify the instructions for step 1 just a bit:
Step 1: Create an empty folder inside /wp-content/ called /cache/ (i.e., not a new folder called in wp-content called /wp-content/cache/
Hope this helps. Thanks verysimple for a great plugin… and thanks lonstarseo for a great answer to this issue.