How I Think Posting HTML In Comments Should Work
css-tricks.com
css-tricks.com
Want to make something italic for emphasis? Encase it in asterisks. Want to make it more emphasized? Encase it in two. Links are reasonably simple, too (if you decide to allow them). Quoting someone, either indent it by a few spaces or put a > char in front of it, depending on the implementation.
Or skip markdown and use wikitext or bbcode.
It's easy for you, it's easy for your site visitors.
Markdown is terse, easy to write, and readable even when rendered in plain text. There's a reason why so many web sites, from Reddit to Github to Stack Exchange, uses Markdown exclusively.
As for the alternatives: Wikitext ''seriously'' '''overloads''' the '''''apostrophe''''', often needs to be supplemented with <u>HTML</u> anyway, and contains [[wiki-specific syntax]] which is not relevant in most blog-commenting situations. BBCode is just a bastardized subset of HTML. It's popular in old-fashioned forum software, but I see no reason to use it in new applications.
Though, instead of went through all the trouble, I'd rather force my users to use Markdown + wmd than trying to deal with HTML in comments.