This is prompted by the excellent diary by LCJ on quality starts and Loiaza.  The question in many people's heads is how well does this correlate with team winning.  A quick google search turned up this Baseball Prospectus article.  Interest and informative, and the charts at the bottom definitely summed things up.
http://baseballprospectus.com/article.php?articleid=1623

Main points:
1.Quality starts is not what it used to be.
2.There is a steady decline in QS% since 1992, corresponding to the beginning of the high offense era.
3.No-decisions in quality starts have been rising steadily.
4.Team winning percentage in quality starts hasn't shown a consistent trend over time, usually around 70%.

Another article from Diamond Minds.  It is a bit outdated (only stats from pre-1992):
http://www.diamond-mind.com/articles/qstart.htm
But it showed that ERA differential and IPs are quite dramatic.  Of course this is the pre-Palmerio era.  Enjoy.