Improvement in patient functioning has become a yardstick for measuring new treatments for schizophrenia. Mohamed et al. (p. 978) found that patients’ psychiatric symptoms and cognition both contribute to functioning, as reflected in quality of life ratings and employment. In addition, in the Clinical Antipsychotic Trials of Intervention Effectiveness (CATIE), functional changes were related to changes in symptoms and cognition over 18 months of treatment. Two studies of new antipsychotic treatments illustrate this dual outcomes assessment. Shekhar et al. (CME, p. 1033) evaluated xanomeline, a selective agonist of acetylcholine muscarinic receptors. Compared to 10 patients randomly assigned to placebo, the 10 assigned to xanomeline had greater improvement in global outcomes, positive and negative schizophrenia symptoms, verbal learning, and short-term memory. Freedman et al. (p. 1040) compared two doses of a partial α7 nicotinic cholinergic agonist, DMXB-A, with placebo in a crossover trial. The higher DMXB-A dose was associated with greater improvement in negative symptoms, especially alogia and anhedonia, than placebo. Improvements in attention and working memory occurred with DMXB-A during the first arm of the trial. Dr. Jeffrey Lieberman et al. comments in an editorial on p. 931.