We investigate near-threshold neutral pion photoproduction off protons to f
ourth order in heavy-baryon chiral perturbation theory in the light of the
new data from MAMI. Ve show that the unitarity cusp at the secondary pi (+)
n threshold is in agreement with expectations from the final-state theorem.
We also analyze the fourth-order corrections to the P-wave low-energy theo
rems and show that potentially large Delta isobar contributions axe cancell
ed by sizeable pion loop effects. This solidifies the parameter-free third-
order predictions, which arc, in good agreement with the data.