The investigation and application of on-line monitoring programs has been ongoing for over two decades by the U.S. nuclear industry and researchers. To this date, only limited pilot installations have been demonstrated and the original objectives have changed significantly. Much of the early work centered on safety critical sensor calibration monitoring and reduction. The current focus is on both sensor and equipment monitoring. This paper presents the major lessons learned that contributed to the lengthy development process including model development and implementation issues, and the results of a recently completed cost benefit analysis.