Google Chrome is not caching images
The most important thing to realize when analyzing browser caching is the "Status Code". In your example, you can see you got a "304", which stands for "Not Modified" Which means the browser "could potentially use it's cache". So you ARE in fact caching. Caching != Not hitting your web server.
The definition according to Mozilla:
This is used for caching purposes. It is telling to client that response has not been modified. So, client can continue to use same cached version of response.
It sends the etag and last-modified to your web server, and your web server then looks at those meta and say "Nope, this file hasn't changed, so feel free to use your cache", and that's it. It actually does not send the file again. You can see that the "Size" is much less then when it's a "200" status code, where the web server IS sending the file, and the timing should me much shorter as well.
In Chrome you can force "non-caching" by checking the "Disable cache" option in the Network tab.
Hope that helps!
It looks like Chrome does handle image caching differently. What type of reload are you doing (following links, pressing enter in the address bar, Ctrl+r)? It looks like if you press enter in the search bar it will respect max-age but if you use Ctrl+r Chrome sets max-age to 0.
You can force caching with manifest file. There's plenty of docs on the web about the topic. Here's a starter: http://www.w3schools.com/html/html5_app_cache.asp