Gibbsian statistical mechanics (GSM) is the most widely used version of statistical mechanics among working physicists. Yet a closer look at GSM reveals that it is unclear what the theory actually says and how it bears on experimental practice. The root cause of the difficulties is the status of the Averaging Principle, the proposition that what we observe in an experiment is the ensemble average of a phase function. We review different stances toward this principle, and eventually present a coherent (...) interpretation of GSM that provides an account of the status and scope of the principle. (shrink)