There is nothing wrong with trimming a quote to only show the parts you want to respond to - I do that a lot so my posts are easier to read and also so they do not take up valuable real estate on a thread page, but altering a quote to fundamentally change the meaning of a person's post is not appropriate, imo. Although sometimes it is harmless if the user makes it clear its a joke, and so long as the original poster doesn't care.
I also agree with this, and truncating a quote to make it misleading, particularly if intended to embarrass (unfairly) a poster is not acceptable and will be infracted as either a personal attack or inappropriate. And of course such conduct leads to the discussion we have here about the matter, which gets everything off topic, and can lead to animus and flame wars. However the "perp's" posts appear to have been deleted, so I am going to let it go this time.