Despite the extraordinary promise of single-wall carbon nanotubes, their realistic application in materials and devices has been hindered by processing and manipulation difficulties. Now that this unique material is readily available in near kilogram quantities (albeit still at high cost), research into means of chemical alteration is in full swing. The covalent attachment of appropriate moieties is anticipated to facilitate applications development by improving solubility and ease of dispersion, and providing for chemical attachment to surfaces and polymer matrices. While it is clear that more investigation is needed to elucidate the nature and locality of covalently attached moieties, developments to date indicate that carbon nanotubes may indeed be considered a true segment of organic chemistry. In this contribution, we review the current state of carbon nanotube covalent chemistry, and convey our anxious expectation that further developments will follow.