I believe separate static caching is now the default behavior.
The cache invalidation behavior is meant to solve different problems. It will help reduce cache invalidations when used correctly, or force invalidation when needed.
But the separate cache is meant to prevent objects that generally must be dynamic, such as characters or animating foliage, from invalidating a bunch of static geometry shadows. This case is not helped by the new behavior setting, since these types of objects cannot use non-invalidating behavior without causing visual artifacts.