The long-standing distinction between channels and transporters is bec
oming blurred, with one pump protein even able to convert reversibly t
o a channel in response to osmotic shock. In this light, it is plausib
le that stretch channels, membrane proteins whose physiological roles
have been elusive, may be transporters exhibiting channel-like propert
ies in response to mechanical stress. We recently described a case, ho
wever, where this seems an unlikely explanation. An Aplysia K channel
whose physiological pedigree is well established (it is an excitabilit
y-modulating conductance mechanism) was found able to be activated by
stretch. Here we establish more firmly the identity of this Aplysia co
nductance, the S-channel, as a stretch channel. We show that the perme
ation and fast kinetic properties of the stretch-activated channel and
of the FMRF-amide-activated S-channel are indistinguishable. We have
also made progress in extending the kinetic analysis of the stretch ch
annel to situations of multiple channel activity. This analysis implem
ents a novel renewal theory approach and is therefore explained in som
e detail.