An interesting debate , I will throw my hat into the ring
I used to use quick formats but now I opt for using the full ones , why?
Well I got a brand new 500G hard drive a while ago and did ye olde quick format
on it and then started to fill it with goodies ( hi def mkv files)
Things went great for about 3 weeks until I had an error on the drive , I lost
loads of stuff and was well peed off about it , after I recovered as much as I could.
I wiped the drive and did a full format ( using acronis disk director) and noticed that
after the format there was some space allocated for errored sectors.
Lesson learned: If you can afford to loose the data on the drive and not cry about it , then quick format it is.
If you are scared about data loss then a full format will give you piece of mind.