That's correct. If you do a quick reply you won't receive notifications. Because of the way it works it just isn't possible. If the system checked your values for those settings it would add a huge load to the system because it would add a query from an entirely different database every time someone looks at a thread therefore it isn't feasable. You can do one of two things - either click on post reply and use the full reply function, or you can click on "Subscribe to this thread" just below the quick reply box after you've made your reply.
Quick quote by the way simply automatically takes the text of that post and puts it in a quote in the quick reply box.