In this article, we describe a self‐paced, mastery‐oriented introductory physics course which handles an enrollment of 600 students per semester. The format of the course includes some of the features of both the Personalized System of Instruction (PSI) and audio–tutorial instruction. We discuss the two‐year transition period from a standard format to the self‐paced format and identify the early problems associated with the new format as well as our solutions to these problems. We also estimate the cost of converting to and maintaining a self‐paced format. We list some of the advantages and disadvantages of the format. Assessment of this self‐paced course, which has now been in full‐scale operation for six years, has been and continues to be positive.