The strength and defects of wave mechanics as a theory of chemistry are critically examined. Without the secondary assumption of wave-particle duality, the seminal equation describes matter waves and leaves the concept of point particles undefined. To bring the formalism into line with the theory of special relativity, it is shown to require reformulation in hypercomplex algebra that imparts a new meaning to electron spin as a holistic spinor, eliminating serious current misconceptions in the process. Reformulation in the curved space-time of general relativity requires the recognition of nonlinear effects that invalidate the practice of linear combination of atomic orbitals, ubiquitous in quantum chemistry, and redefines the electron as a nondispersive wave packet, or soliton.