I think you are missing the point of the issue of "quantum magnetism". Everyone knows about the origin of the magnetic dipole moment in atoms. That isn't the problem. But what causes a material to be diamagnetic, ferromagnetic, antiferromagnetic, paramagnetic, etc... is a MANY-BODY problem that is very difficult to solve and is still an on-going research field. This is especially true when you find these individual dipoles to lower dimensions. (2D plane and 1D chain). Why do these individual magnetic moment line up with their neighbors in one instant while they allign in opposite direction in another instant in a different material? This is where you have everything from mean-field approximation, to the t-J model, etc.
The issue of magnetism in matter isn't just the individual magnetic moment, but the LONG-RANGE pattern of the distribution and orientiation of these moments. Such long-range order is what determines if it is a ferromagnetic, antiferromagnetic, etc...
Zz.