Although the parr–smolt transformation of salmonids has been investigated for some fifty years, an array of specific aspects of the process remains unclear. At the 7th International Workshop on Salmon Smoltification convened in Tono, Japan, there was a consensus for the need for a review of the most pertinent findings on smoltification over the years and a discussion of what the future holds. We present here a three-part summary based to a large extent on the presentations and lively discussions which took place at the Workshop. The first part outlines some of the impressive successes this research has fostered. The second part deals with some current misconceptions, often based on over-interpretation of data and/or the lack of data. Finally, a discussion of future targets and aims and their applications is presented.