Software components, if used properly, offer many software engineering benefits. Yet, they also pose many original challenges starting from quality assurance and ranging to architectural embedding and composability. In addition, the recent movement towards services, as well as the established world of objects, causes many to wonder what purpose components might have. This extended abstract summarizes the main points of my Frontiers of Software Practice (FOSP) talk at ICSE 2003. The topics covered aim to offer an end-to-end overview of what role components should play, where they should be used, and how this can be achieved. Some key open problems are also pointed out.