Allow me to reiterate and hopefully do a better job this time, describing the bug.
I was in error a little bit the first time I described it, because I had some false assumptions.
Here is the situation as I see it in 10.8.2:
1. I have 13 active email address accounts set up in my Mail.app. Don't ask; it has to do with over a decade of working at various companies, doing different projects, and accumulating different groups of people I correspond with and who are used to corresponding with one of my email addresses. In this day and age of spam filters etc, keeping the email address consistent with folks I've been yakking with for years, or with mailing lists I've been on for years, has its advantages and conveniences...
2. I mistakenly stated, here and to Apple Support, that when composing a new message, the From address was not defaulting to the current inbox. Mistaken, because I don't use the inboxes most of the time. I have tons of mailboxes (dumb ones, not smart ones) and run a gazillion rules and inbound mail to all those addresses gets sent various mailboxes I've created. So for account brian@abcd.com, for instance, it goes to an "abcd" mailbox; for brian@efgh.com, it goes to the "efgh" box I've created, and so on. It works for me.
3. It turns out that Mail.app DOES DO, at least for me, the right thing, IF you first click on, say, abcd.com's inbox sub-folder inside "Inbox", and you create a new message. From: is set to abcd.com. Great. But I don't care. I never do that. My inboxes are essentially empty.
4. HERE IS THE BUG: in prior MacOS X's, no matter WHAT email you were reading, if you hit 'Reply', the email composer window for your reply popped up and the From was properly set to the right thing, based on the address the sender sent to. So if someone emailed me at brian@efgh.com, when I hit 'Reply', it would say From: brian@efgh.com, not brian@abcd.com or something else. With 10.8.2, IT NO LONGER DOES THIS. Whatever the very first account is in my alphabetical list of accounts, is ALWAYS the default From address when I reply. This creates HUGE hassles and productivity problems on my end, and confusion and potentially spamfilttered issues on my recipients' end.