The current state of understanding of point defects is reviewed from the standpoint of theoretical models and experimental findings. Because of the inherent difficulties with most high-temperature equilibrium measurements of lattice defects, the experimental effort has largely been focused on the generation of excess defects by quenching, cold work, and radiation damage. The so-called five stages for the annealing of excess defects are discussed in some detail with attempt to point out where there has been substantial progress in understanding and where strong controversy still persists. Of these latter perhaps, the most outstanding example is the nature of the stage III annealing. In many cases the release of interstitials from traps at dislocations and impurities must play a role. Di-interstitial migration is a tempting possibility but recent experiments indicate a primary character for the defect mobile at this stage.