Does SQL_NO_CACHE work?

[mos]

I tried :

select SQL_NO_CACHE * from table where col1='abc';

which took 800ms the first time it was executed. The second time it was 
executed it took 0ms. How is that possible if the query is not put into the 
query cache? Should the query take roughly the same amount of time?

TIA
Mike
MySQL 5.0.24