Recent attempts to turn Standard Quantum Theory into a coherent representat
ional system have improved markedly over previous offerings. Important ques
tions about the nature of material systems remain open, however, as current
theorizing effectively resolves into a multiplicity of incompatible statem
ents about the nature of physical systems. Specifically, the most cogent pr
oposals to date land in effective empirical equivalence, reviving old anti-
realist fears about quantum physics. In this paper such fears are discussed
and found unsound. It is argued that nothing of global skeptical or agnost
ic significance follows from the kind of underdetermination presently encou
ntered in fundamental quantum theory. The case is instructive, however, for
what it shows about the characteristics and prospects of scientific realis
m as a perspective in contemporary philosophy of science.