Hemodynamic monitoring has moved in the last few years from being the holy grail of evaluating patients with acute heart failure to being all but extinct. Recent studies have not demonstrated any sustained benefits from right heart catheterization, and some studies have even suggested harm due to adverse events related to this invasive procedure. It is possible that this lack of efficacy is related to multiple inherent deficiencies in the design of these studies, including the inclusion of patients with chronic heart failure or mild acute heart failure, use of the reduction in pulmonary artery occlusion pressure as the main hemodynamic target for intervention, choice of treatment algorithms, and selection of ambitious long-term efficacy and safety end points. This review discusses the role of hemodynamic monitoring in patients with acute heart failure. We suggest that right heart catheterization should be reserved for patients with acute heart failure and impending respiratory or circulatory failure especially in the presence of a diagnostic or therapeutic dilemma or when encountering acute heart failure or hemodynamic lability refractory to conventional therapy. Therapeutic algorithms emphasizing modern variables for cardiovascular performance and using safer and more efficacious individualized therapies and possibly noninvasive measurement of certain hemodynamic variables may enhance the likelihood of a beneficial effect for hemodynamic guided therapy.