Often times I want to add a quote somewhere in my post but don't want to leave my response to go find it.
If you click the little icon above the text box that is a word balloon, it will insert the tags for a quote. If you just type in or paste whatever you want in there (when you click it you don't have to move the cursor afterwards. it drops it right where you want to place the quoted text), it will work when you post.
As mentioned above it won't reeference the post, or the author, though you can add that manually too, but it's quick and dirty that way. Easy to do.