set status to Accepted, assigned Cyprezz.
Yeah, it's meant to limit how much you see or interact with them but it will never be perfect considering all content and most wall posts are public. We don't customize every feed on the site to the person viewing but probably could for the community feed & personalize other member personalized feeds to the viewer (you).

However, there is no way to address the fact that all someone has to do log out, to view a person's public profile/content that blocked you. Typically members stay logged in though.