Quote:
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When this is selected before the conversion, all plain quotes, dashes and ellipsis are converted to their typographically correct equivalents. For example, plain quotes to curly quotes.
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The problem with that sentence is that it equates the correct smartening of quotes with the incorrect obliteration of function-dependent ellipses. Any professional editor will tell you that replacing a four-point ellipsis at the end of a sentence with three points is absolutely incorrect.
What a terrible decision to have to make: Either to put up with double dashes and straight quotes or to obliterate correct ellipsis points. It's the punctuation equivalent of the judgment of Solomon!