We give an update of the situation concerning the effect of electron-electron interactions on the physics of a neutral graphene system at low energies. We revise old renormalization group results and the use of 1/N expansion to address questions of the possible opening of a low-energy gap, and the magnitude of the graphene fine structure constant. We emphasize the role of Fermi velocity as the only free parameter determining the transport and electronic properties of the graphene system and revise its renormalization by Coulomb interactions in the light of recent experimental evidence.