I don't see any reason why we couldn't amend our current touch boot menu to include some recovery options. It shouldn't be that difficult to do. As is, I'm fairly confident that I could add in some wiping options, installing an update.zip from sd root, maybe even backup and restore. It would take me a long ass time to do. Its also not something that I plan on actually doing (at least anytime soon) -- just saying its technically possible.
I can only speculate on why Quarx or Epsy haven't done something similar -- probably has something to do with 3 CM versions, custom kernels, a locked device that needs special fixes, them being only human. You can't expect them to do everything for us, even though it'd be nice if they could. They also do CM on more devices then just the Defy/Bravo...they're busy guys with a lot on their plates.