The technology of magnetically suspended vehicles (Maglev) is now 50 years old, and yet exploitation remains minimal, despite the expectations arising from the initial dreams. This lecture weaves together the speaker's own research involvement in the subject since the 1970s with an overview of what else has been done and achieved. It provides a technical and historical appraisal, starting with the expected features believed in the early days to characterise the benefits of Maglev, outlining the various manifestations of the technology and reviewing the actual achievements against the initial expectations, i.e. to assess the viability of the original dream. The speaker offers a commentary on the present-day barriers and opportunities, and presents some suggestions for R&D emphasis looking to the future.