Doesn't the "Replies to my posts" link, under the recent unread topics, do the same thing?
Not quite. On a another forum I used to visit, there was feature that allowed you to directly see who actually quoted you. I found that quite handy.
It's not really tricky to implement, but this function will miss the cases where other people reply to your posts without quoting you. So it's probably a bad feature (sorry this is a bit technical).
Not necessarily. In most cases, people tend to quote you. This feature could also motivate people to use the quote function too. I don't always revisit threads under my 'Replies to my posts', which is why I asked.