It would seem logical to strip all quoted text from a post before generating the search result snippets of the post, otherwise the snippet is kind of misleading, since it does not contain the poster's words.
Hmm. I think quoted text should be indexed (you may want to search for a post based on a keyword that you remember from within quoted text). How about this-- when the search is for "Your content"/"What's New" etc, strip any leading quotes and use the beginning of the author-generated text as the snippet. If it's a keyword search, then generate the snippet by grabbing the first instance of the searched keyword and the surrounding text whether or not it's at the beginning of the post or if it's in quotes.