Does the "thread display" view allow for collapsing & expanding a given thread?
No, the List by Topic options provides a view of all messages and their relationship to the initial post, but it is not a threaded, interactive interface.
Is this "State-of-the-art web experience" not capable of such a thing?
It would go a long way with NNTP users if this was possible.
Quite frankly Eric, the web interface sucks.