With the WYSIWYG editor (current), it is not possible to break up quotes into segments to address individual points in the parent post one by one. I have to quote it in its entirety and then write a large block - which becomes confusing, or post multiple messages.
Actually, it's possible.....try putting 3 small paragraphs into the posting box. If you add about 3-4 lines in between the paragraphs, you can highlight and quote the middle section, though you may have to go back and erase a few extra lines.
But yeah, the quote function sucks, and [blockquote] apparently doesn't work. :(