As you know a Full NTFS will wipe the HDD for real and Write a new File System, the Quick NTFS does not, and if you have a busted File System the Full is better.
Aside from that obv above info, there is an issue in XP known of by MS (dont ask me for knowledgebase info as I aint got it any longer).
The issue is when you use Quick NTFS to format an new HDD thats RAW, or a used HDD you have made RAW (likes of Maxtors apps to write zero's) or full formatd HDD you do a Quick Format on.
What can happen (I state can not will), you end up 1 day the PC will not boot up, there is 3 files missing, it cant be fixed with the Recovery Console and XP CD, it cant be fixed by any method apart from getting the 3 missing files from another XP PC and putting them on a Floppy or CD and settings the PC to boot to the Floppy or CD 1st.
It will read the files then boot to the HDD as normal, this is a Temp Fix to get you up and running to get your files or work etc. (You could run like this as long as you like).
This has only happened to me once in all the years of building PC's and the reason I no longer have the MS Knowledge base info is that it will never again happen to me as I now always do a Full NTFS even on a new RAW HDD, it takes longer, big deal I leave the house and go do other things.
Now you will get some smartass that will say that never happened to me etc, that dont mean it cant, I only seen it once as I said but could have seen it more if I did not find out the cause of it.
So saving a bit of time cost me more time later on with a full backup/wipe and clean install of XP again for that customer.