I just noticed a few of the old timers tended to quote other members using the '>'
operator. Now since the new system has been implemented a lot of old legacy posts including mine make little sense as the newline has been removed and merged with the line above.

Maybe this was done initially to remove redundant newlines, but it makes old legacy style quoted posts difficult to read.

Any possible fix or are we going to just chalk this one up as not worth fixing?

We're going to chalk it up as impractical to fix, at least in any automated way. Feel free to report any posts you find to have truly egregious formatting and one of the mods can attempt to fix it.