In this perspective, we take a critical look at the research progress within the nanowire community for the past decade. We discuss issues on the discovery of fundamentally new phenomena versus performance benchmarking for many of the nanowire applications. We also notice that both the bottom-up and top-down approaches have played important roles in advancing our fundamental understanding of this new class of nanostructures. Finally we attempt to look into the future and offer our personal opinions on what the future trends will be in nanowire research.