The stimulus evaluation view on P3 latency holds that P3 latency mainl
y reflects stimulus processing time, in contrast to response-processin
g time. A review of the experimental evidence, however, leads to the c
onclusion that P3 is not a sensitive tool for separating between stimu
lus- and response-related processes. Rather, it appears that P3 latenc
y is a sensitive index of any response-time changes when response time
s in the fast condition are brief, with its sensitivity decreasing whe
n response times in the fast condition get longer. This regularity was
confirmed by a detailed analysis of the published evidence from Stern
berg's task and was not attributable to speed-accuracy trade-off or to
different methods of parametrization. The structures generating the s
calp P3b are involved both in stimulus processing and in response sele
ction. Response selection may exert its effect on P3 in one of two way
s: either directly, fully delaying P3 latency, or affecting a second P
3 component (P-CR) only, thus having an attenuated effect on P3 latenc
y.