There are others (asmi has developed one but I can't find it right now for some reason). All the ones I've seen are very similar in their recommendations.
When you block a person, they can no longer invite you to a private message or post to your profile wall. Replies and comments they make will be collapsed/hidden by default. Finally, you'll never receive email notifications about content they create or likes they designate for your content.
Note: if you proceed, you will no longer be following .