First we had UML 1.3 and we were promised increased productivity, shorter development lifecycles, and higher quality systems. Well the reality was somewhat different. In June 2003, OMG voted to adopt the specification for UML 2.0 from the U2 Partnership. We are now being told (by the vendors) that this will fix all of the shortfalls. Surprising it won’t, and this paper explains what has changed in UML 2.0, what will be better, but also where the problems still exist.