One year ago, at the Bremerhaven Colloquium, we celebrated the end of BIOMASS. Its primary and inspiring goal had been to reach a “deeper understanding” of the structure and functioning of the Antarctic Marine Ecosystem as a basis for the future management of potential living resources. Fifteen years of intense studies in the Southern Ocean have produced a great wealth of information and some increase in understanding. We are now far more cautious before making sweeping statements on Southern Ocean productivity. We doubt that the question, “How much krill is in the Southern Ocean?” can ever be answered. Instead, we think in terms of regional stocks and of their production rates; we are interested in the fluxes between the compartments of the ecosystem and we consider variability more important than averages and steady rates.