You can use a QTOF to quantify, but because of a minor dynamic range of this type of analyser you will not be able to quantify some compounds in lower concentrations. The best analyser for quantitative analyses still is the triple quadrupole arrengment, but nothing prevents you for using Qtofs.
I use our institution's Q-TOF instrument for qualitative and quantitative analysis. For quantitative applications it is strongly recommended using an internal standard (deuterated or C13-labeled work excellent, but you should check ion supression of your analyte). In the quantitative applications we've seen how valuable is its high resolution, it let us distinguish between our actual analyte and some background interferences that could not have been resolved with a low resolution instrument (SQ or TripleQuad), thus improving our results. Both are great instruments, and both have some advantages over the other as you have read in the comments.