Two crucial aspects of transport vesicle function have recently been r
econstituted using purified proteins and chemically defined lipid bila
yers. The reconstituted steps are the assembly of a polymeric protein
coat on the cytosolic surface of the membrane, and bilayer fusion base
d on the pairing of proteins in the Vesicle and target membrane. These
advances now set the stage to address major unresolved questions of h
ow vesicle budding and vesicle fusion are regulated, how specific carg
o molecules are incorporated into vesicles, and how vesicles find thei
r target membrane.