The discovery of “benzodiazepine receptors” provided the impetus to discover and develop anxioselective anxiolytics (“Valium® without the side effects”). The market potential for a GABAA receptor-based anxioselective resulted in multiple compounds entering clinical trials. In contrast to the anxioselective profile displayed in preclinical models, compounds such as bretazenil, TPA023, and MRK 409 produced benzodiazepine-like side effects (sedation, dizziness) in Phase I studies, whereas alpidem and ocinaplon exhibited many of the characteristics of an anxioselective in the clinic. Alpidem was briefly marketed for the treatment of anxiety, but withdrawn because of liver toxicity. Reversible elevations in liver enzymes halted development of ocinaplon in Phase III. The clinical profiles of these two molecules demonstrate that it is possible to develop GABAA receptor-based anxioselectives. However, despite the formidable molecular toolbox at our disposal, we are no better informed about the GABAA receptors responsible for an anxioselective profile in the clinic. Here, I discuss the evolution of a quest, spanning 4 decades, for molecules that retain the rapid and robust anti-anxiety actions of benzodiazepines absent the side effects that limit their usefulness.