This paper provides a status report on physical modeling synthesis from the point of view of a researcher working primarily on digital waveguide models [54]. First, an overall status is proffered, followed by status reports by instrument family. In each family, some successes and shortcomings are listed, and some recent highlights in the literature are cited. For brevity, recent activity is emphasized over earlier developments. The last section briefly summarizes a few outstanding problems that seem to warrant further consideration.