diff --git a/README.rst b/README.rst
index 41e6a9284d..eae5f507ba 100644
--- a/README.rst
+++ b/README.rst
@@ -6,8 +6,6 @@ Cretonne is a low-level retargetable code generator. It translates a `target-ind
 intermediate representation <https://cretonne.readthedocs.io/en/latest/langref.html>`_ into executable
 machine code.
 
-*This is a work in progress that is not yet functional.*
-
 .. image:: https://readthedocs.org/projects/cretonne/badge/?version=latest
     :target: https://cretonne.readthedocs.io/en/latest/?badge=latest
     :alt: Documentation Status
@@ -23,6 +21,37 @@ machine code.
 For more information, see `the documentation
 <https://cretonne.readthedocs.io/en/latest/?badge=latest>`_.
 
+Status
+------
+
+Cretonne currently supports enough functionality to run a wide variety of
+programs, including all the functionality needed to execute WebAssembly MVP
+functions, although it needs to be used within an external WebAssembly
+embedding to be part of a complete WebAssembly implementation.
+
+The x86-64 backend is currently the most complete and stable; other
+architectures are in various stages of development. Cretonne currently supports
+the System V AMD64 ABI calling convention used on many platforms, but does not
+yet support the Windows x64 calling convention. The performance of code
+produced by Cretonne is not yet impressive, though we have plans to fix that.
+
+The core codegen crates have minimal dependencies, and do not require any host
+floating-point support. Support for `no_std` mode in the core codegen crates is
+`in development <https://github.com/Cretonne/cretonne/tree/no_std>`_.
+
+Cretonne does not yet perform mitigations for Spectre or related security
+issues, though it may do so in the future. It does not currently make any
+security-relevant instruction timing guarantees. It has seen a fair amount
+of testing and fuzzing, although more work is needed before it would be
+ready for a production use case.
+
+Cretonne's APIs are not yet stable.
+
+Cretonne currently supports Rust 1.22.1 and later. We intend to always support
+the latest *stable* Rust. And, we currently support the version of Rust in the
+latest Ubuntu LTS, although whether we will always do so is not yet determined.
+Cretonne requires Python 2.7 or Python 3 to build.
+
 Planned uses
 ------------