Jekaterine was kind enough to show me how to block/ignore somebody on Backstage today, so I thought I would show everybody else how it is done:
Hover over the "Profile" dropdown menu and select "Account Settings"
Under the Modify Profile section on the left side, click "Buddies/Ignore List"
Make sure you click "Edit Ignore List" before trying to add their name, otherwise they will be added as a buddy!
You'll now see a text entry box that says "Add To Ignore List"... type their name in.
Now that they are ignored, you will no longer see their posts. You will still be able to see quotes of their posts, but not the post itself. You probably also won't be able to receive private messages from them.
Enjoy your freedom!