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The OpenStack Operations Guide discusses quotas in depth here: http://docs.openstack.org/trunk/openstack-ops/content/projects_users.html#quotas.

I believe there is less documentation on quantum quotas, however. My guess is that each scheduler (nova and quantum) enforces quotas separately. So floatingip quotas from quantum are enforced by quantum when quantum is in place, and floating_ips for nova is enforced by nova's scheduler when nova-network is in use.