Bug in "reply to" email address
In the new user registraion email settings, the email address info (little ? for more info) states"
"This is what your customers will see as the "from" email address (also the reply to) when they receive the new user registration email. Use only a valid and existing email address with no html or variables."
But the reply to email address is NOT the address listed. It's a default email address "noreply@sitename.com"