I should explain in a bit more detail!
I was having some caching problems, so to debug it I edited one of the cache files by adding a comment to the source of _content (in fact to some HTML which was inserted by a cached snippet).
When I viewed on the site, it wasn’t showing up.
So I added some comments to one of the element caches for a snippet further down the file, and this DID show up. So ModX is using the non-cached version of the whole page, but using the cached elements to assemble it. In the caching settings, everything is turned on.
So I was wondering under what circumstances ModX would use _content, and what circumstances it will compile the page from the various cached elements?