Surely, after 62 years, we should have an exact formulation of some serious part of quantum mechanics? By 'exact' I do not of course mean 'exactly true'. I mean only that the theory should be fully formulated in mathematical terms, with nothing left to the discretion of the theoretical physicist... until workable approximations are needed in applications. By 'serious' I mean that some substantial fragment of physics should be covered. Nonrelativistic 'particle' quantum mechanics, perhaps with the inclusion of the electromagnetic field and a cut-off interaction, is serious enough.