A personal perspective is given of progress in single-molecule magnets (SMMs) and related phenomena over the last decade. Progress is discussed under seven headings: “Lanthanide Single-Molecule Magnets”, “Organometallic and Low Coordination Number SMMs”, “Single-Chain Magnets”, “SMMs on Surfaces and on the Route to Spintronic Devices”, “Molecular Nanomagnets for Magnetic Cooling”, “Molecular Nanomagnets for Quantum Information Processing” and “Photomagnets”. In all areas, substantial progress has been made, but the proposition is made that prototype devices are now needed for the field to make further progress.