IAU Symposium 232 allows a snapshot of ELTs at a stage when design work in several critical mass projects has been seriously underway for two to three years. The status and some of the main initial design choices are reviewed for the North American Giant Magellan Telescope (GMT) and the Thirty Meter Telescope (TMT) projects and the European Euro-50 and the Overwhelmingly Large (OWL) projects. All the projects are drawing from the same “basket” of science requirements, although each project has somewhat different ambitions. The role of the project offices in creating the balance between project scope, timeline and cost, the “iron triangle” of project management, is emphasized with the OWL project providing a striking demonstration at this meeting. There is a reasonable case that the very broad range of science would be most efficiently undertaken on several complementary telescopes.