Smart grids have attracted significant attention lately, and one can even speak of hype. However, much of the attention is paid to the distribution side and consumer interaction. Nevertheless, also at the transmission-level important improvements can be achieved through farsighted and careful intelligent grid design and implementation. This chapter describes and proposes a realistic research agenda in which smart transmission grid (STG) research may operate, with focus on operational planning and operations of the pan-European electricity grid. Firstly, a research outlook seen from current European policy is laid out to redefine the most consequential research directions liked to the needs of transmission systems from real time up to planning. Secondly, operations (real time to hours) of the transmission system are discussed, and monitoring and control technologies that can be achieved through the application of synchronized phasor measurement technology are highlighted as a means toward a STG. Next, challenges related to planning (hours to years) are discussed keeping in mind the need of flexibility, coordination, and new methods for assessing system security. Going beyond the purely academic point of view, this chapter specifically aims to bring a realistic approach toward research for electric power transmission to be able to transform into a STG.