Question of the day: what's the difference between HTML's blockquote, q, and cite tags?

As I understand it, blockquote is for marking off (multiple) paragraphs of quoted material that would be appropriate to set off as a block-level element.

The q tag, on the other hand, is for making short quotes, meant to run inline with the text.

So what makes the cite tag different from the q tag? I didn't know. Google turned up a pretty good explanation and example (from 1995 -- and we're just learning about this?!). It turns out that q is still for inline quotes, and cite is not for marking quotes but for marking off where quotes came from, the names of sources. A couple of examples in the spirit of the explanatory e-mail's:

<q>CITE is not for quotes or excerpts, but rather for titles of cited works,</q> said Daniel W Connolly in <cite>Re: <CITE>, <Q>, and <BLOCKQUOTE></cite>

where Re: <CITE>, <Q>, and <BLOCKQUOTE> is the name of his e-mail (or book, or magazine...). Also:

<blockquote> <p>I think <attrib> is an important content markup that would be especially useful to indexing robots. <address>Mike Batchelor<br />www-html-1995q3/0170.html</address> </blockquote>