>This means DMARC can't be treated as a way to combat spam, ...

Right, it's not an anti-spam tool, it's an anti-phishing tool.

For domains that send all of their mail from a known set of places and
that are subject to impersonation, DMARC can be a useful tool to tell
the real mail from the fake.  The number of of those domains is
relatively small, but since the tend to send a lot of mail and to be
well known, DMARC can likely make a difference for famous phish
targets like Paypal, American Greetings, and lots of well known
banks and government agencies.

For domains with real users who do the usual range of things that
users do (mailing lists, forward to and send from gmail and Yahoo,
newspaper mail-to-a-friend, etc.) the policy part of DMARC is not
useful, although if you publish a DMARC record that asks for
statistics reports, those reports can be quite interesting.  That's
what I do.

>When a message has non-existent/invalid/etc domain in From, should it be 
>treated as failed the DMARC test, or DMARC is not applicable here?

It's not applicable.  In practice, the tiny amount of mail I see with
no From: header tends to be from broken notification daemons, not spam
or phishes.

-- 
Regards,
John Levine, jo...@iecc.com, Primary Perpetrator of "The Internet for Dummies",
Please consider the environment before reading this e-mail. http://jl.ly
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