There was a time without that system, so it's better than nothing.
When I'm quoted, I sometimes don't get an alert or any notification, nor does it show up in my "Who Quoted me"?
Is there a specific reason for this? Is it me or the site?
I can confirm that this truly happens quite often.

I get notifications from being quoted, but I see no quote.

And the most annoying part after receiving a notification and went to check the quote;
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Exactly this.
Or when a new thread is on the New Threads board on the Main Page...and then it tell us we don't have permission.
Maybe quitting NB will solve this problem?
And the most annoying part after receiving a notification and went to check the quote;
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Fyi it isn't just simply clicking some button to fix it.