Many colleges and universities are attempting to increase the recognition they give to those faculty who go beyond mere competence and truly represent the best teaching higher education has to offer. What is the promise of programs to honor exemplary teaching? What pitfalls must they avoid? This issue of New Directions for Teaching and Learning describes programs in a variety of settings and with varying purposes. It reviews research relevant to selection criteria, and it offers guidelines for planning and implementing the kinds of programs most likely to be effective. This is the 65th issue of the journal New Directions for Teaching and Learning.