In my game, Quick Draw is limited to 3 actions per round. You can draw anything (not just weapons, like normal) with it, as long as it's easily accessible (so nothing in packs, but possible if they're strapped onto the side). Putting away and object to an easily accessible location counts as 2 actions.
If you take Quick a 2nd time (so no more than twice), then you can take 5 actions total with it, and the feat can be used anytime, even if it isn't your turn. The 5 actions reset at the beginning of your round, like normal.