Steve, I appreciate your thoughts, and agree with you. What a great paper by Will Thalheimer!
Judith, thanks for chiming in. As to your first bullet, in a multiple choice, the learner would keep getting the same Try Again until they get it right - regardless of the number of attempts you allow other than 1. When they get it right, and get the Correct feedback, you can provide the feedback describing why it is correct. I don't know how we can set up another feedback layer if the question is set to give Feedback by Question.
If you want each of the answers to give a different feedback, you can select Feedback by Choice from the menu provided in the quiz question.
For your third bullet, are you referring to a Multiple Reponse type question? If so, I don't know of a way to provide feedback for every possible combination of responses. (Variables can no doubt be created for anything we are talking about here!)