Five years ago systematic determination and theoretical analysis of all protein structures encoded in model prokaryotic organisms was proposed as a powerful way to obtain new insights into protein function and the variety of protein folds. What has been the pay-off from studying structures in genomic context? Have we learned anything new about protein structure? Can we now predict protein function better? In this contribution, I summarize the status of large-scale structure determination projects on prokaryotes and provide an overview of the main results obtained from experimental and theoretical studies in this dynamic research field.