In this article, we discuss the relevance of electrophysiological data to the enterprise of analyzing and understanding the reading process. Specifically, we detail how the event-related brain potential (ERP) technique (and its magnetic counterpart) can aid in development of models of visual word recognition. Any viable and accurate account of reading must take into account the temporal and anatomical constraints imposed by the fact that reading is a human brain function. We believe that neurophysiological (especially, although not limited to electrophysiological) data can serve an essential reference in the development of biologically realistic models of reading. We assess just how well extant electrophysiological data comport with specific predictions of existing computational models and offer some suggestions for the kinds of research that can address some of the remaining open questions.