The slow reversal of periods and quotation marks (idea)

Actually, what HongPong terms "the slow reversal of periods and quotation marks" is better known as logical quoting. ESR discusses this very phenomenon in the Hacker Writing Style chapter of The Jargon File. To summarize:

• Logical quoting is the rule in all English-speaking countries outside the U.S. (This, incidentally, also means that the Queen's English does not use American-style quoting.)
• As far as I know, all other languages that use the Roman alphabet also use logical quoting.

The copyediting-l FAQ notes (with some uncertainty) that typesetters invented "illogical" American quoting to keep periods from breaking off, and that some proponents also think the effect is aesthetically more pleasing. Still, the FAQ authors conclude that "British style" is "logical, easy to apply, and easy to read", a sentiment with which I wholeheartedly agree. (Causing not a few arguments with overly pedantic English teachers in the process, mind you...)