We study graded Lie algebras of maximal class over a field F of positi
ve characteristic p. A. Shalev has constructed infinitely many pairwis
e non-isomorphic insoluble algebras of this kind, thus showing that th
ese algebras are more complicated than might be suggested by consideri
ng only associated Lie algebras of p-groups of maximal class. Here we
construct {\F\aleph N-0} pairwise non-isomorphic such algebras, and ma
x{\F\, aleph(0)} soluble ones. Both numbers are shown to be best possi
ble. We also exhibit classes of examples with a non-periodic structure
. As in the case of groups, two-step centralizers play an important ro
le.