Today’s computing is based on the classic paradigm proposed by John von Neumann, three-quarters of a century ago. That paradigm, however, was justified for (the timing relations of) vacuum tubes only. The technological development invalidated the classic paradigm (but not the model!). It led to catastrophic performance losses in computing systems, from the operating gate level to large networks, including the neuromorphic ones. The model is perfect, but the paradigm is applied outside of its range of validity. The classic paradigm is completed here by providing the “procedure” missing from the “First Draft” that enables computing science to work with cases where the transfer time is not negligible apart from the processing time. The paper reviews whether we can describe the implemented computing processes by using the accurate interpretation of the computing model, and whether we can explain the issues experienced in different fields of today’s computing by omitting the wrong omissions. Furthermore, it discusses some of the consequences of improper technological implementations, from shared media to parallelized operation, suggesting ideas on how computing performance could be improved to meet the growing societal demands.