This report elaborates the long-term course and outcome for systematically rediagnosed patients with borderline personality disorder (n = 81) from the Chestnut Lodge follow-up study. They were assessed and are described from multiple outcome perspectives. Schizophrenic (n = 163) and unipolar affective disorder (n = 44) cohorts serve for comparison. Borderline patients were comparable with unipolar patients and scored significantly better than schizophrenic patients on most indexes of outcome. Outcome also varied over time, with borderline patients functioning best in the second decade after discharge.