I tried to upload an 84KB file into a folder. It did not work, and the alert said "Account storage limit reached."
I could upload that file into the root directory, which is great - but I could not move it into the folder I wanted.
Also, the storage amount is wrong. It says "162.0 MB of 10.0 GB used" but I know it's more than that. It's not full, but it certainly is more than 162 MB.