This ongoing investigation was concerned with why some children were labeled gifted while others of identical measured ability were not. Each labeled "gifted" child was matched for age, sex, and socioeconomic status (SES) with two others in the same school class. The first matched child had an identical Raven's Matrices raw score, and the second was chosen at random for ability (N = 210). The study, begun in 1974 across the UK, used a battery of tests, including IQ, personality, behavior, and in-depth interviews of children, parents, and teachers. The group labeled gifted were found to have significantly more emotional problems than the nonlabeled group, which they mostly grew out of. This follow-up study demonstrates that for the subjects now in their 40s, a gifted childhood has not always delivered outstanding adult success. Better predictive factors for adult success were hard work, emotional support, and a positive, open personal outlook. By 2005, the labeled and nonlabeled gifted groups were not very different in life outcomes, though both groups were much more successful than the random-ability group.