We present results on the performance of the first prototype of the CASTOR quartz-tungsten sampling calorimeter, to be installed in the very forward region of the CMS experiment at the LHC. This study includes GEANT Monte Carlo simulations of the Cherenkov light transmission efficiency of different types of air-core light guides, as well as analysis of the calorimeter linearity and resolution as a function of energy and impact-point, obtained with 20-200 GeV electron beams from CERN/SPS tests in 2003. Several configurations of the calorimeter have been tested and compared, including different combinations of (i) structures for the active material of the calorimeter (quartz plates and fibres), (ii) various light-guide reflecting materials (glass and foil reflectors) and (iii) photodetector devices (photomultipliers and avalanche photodiodes)