Realizing Nature's Potential: The Once and Future King of Drug Discovery was a two-day event held at the Missouri Botanical Garden in the fall of 2006 in honor of Dr. Gordon Cragg. Dr. Cragg, former chief of the Natural Products Branch of the National Cancer Institute, was throughout his career a tireless advocate for the conservation of nature in order to maintain the rich chemical diversity that has so often been vital to the development of new pharmaceuticals. Research scientists from academic and corporate programs came together to present the results of their research in the natural products field. Their contributions touch upon recent methodological innovations, the legal and ethical landscape, and the future direction of natural products research.