We fabricate and experimentally characterize an H0 photonic crystal slab nanocavity with a design optimized for maximal quality factor, Q = 1.7 x 10(6). The cavity, fabricated from a silicon slab, has a resonant mode at lambda = 1.59 mu m and a measured Q-factor of 400 000. It displays nonlinear effects, including high-contrast optical bistability, at a threshold power among the lowest ever reported for a silicon device. With a theoretical modal volume as small as V = 0.34(lambda/n)(3), this cavity ranks among those with the highest Q/V ratios ever demonstrated, while having a small footprint suited for integration in photonic circuits. (C) 2014 AIP Publishing LLC.