In a real sense, PISA 2003 has touched the mathematics education community by stealth rather than by storm. Although PISA brings “baggage” commonly associated with international assessments, it takes some refreshing perspectives especially in the way that it envisions and assesses mathematical literacy. In this panel discussion we focus on some of the issues associated with PISA: scrutiny of student performance, construct and consequential validity, what makes items difficult for students and the potential impact of PISA on mathematics education research. In selecting these issues we merely begin the debate and open the way for your participation.