Editors' Summary: The U.S. Supreme Court's recent decision in City of Monterey v. Del Monte Dunes at Monterey, Ltd., and its implications for takings challenges, are comprehensively discussed in this Article. The author describes the claims that were before the Court, and why several earlier Court rulings were implicated. The Article then reviews the Court's holdings on three major issues, and explores the extent to which the Court provided definitive guidance regarding the scope and nature of the regulatory taking doctrine. The author's conclusion is that the law of regulatory takings remains as muddled as ever, and that significant issues were either not addressed or remain unanswered after the Court's ruling.