Consistent with education reform, Professional Education Units (PEUs) are engaged in a re-examination of teacher education. This study was conducted by the PEU at Wayne State College (Nebraska) to examine perceptions of readiness for teaching by 74 preservice teachers in their first education course, 81 teacher education students in their student teaching semester, 21 cooperating teachers, and 36 public school administrators. For purposes of investigation, a 20-measure instrument was adapted from the national Research about Teacher Education (RATE) survey. Results indicated that teacher education programs which were directly supported by a PEU knowledge base had positive reactions to the program from all populations. Data suggested that beginning preservice teachers' perceptions were extremely positive and optimistic about teaching, and that student teachers were apprehensive about independently initiating their professional preparation in real school environments. These data were also reinforced by school administrators who had more confidence in the perceived readiness of student teachers than did the student teachers themselves. Fourteen statistical tables are included. Contains six references. (Author/LL)