Philosophers of modern logic have cherished no project more dearly than that of extensional reduction. Despite occasional protests that this project was ill-conceived from the start, or that it fails to account for important areas of experience and thought, the extensionalist mills have been grinding away anyhow. Their grinding has brought with it a number of important technical successes, replete with philosophical claims that light has finally been shed on areas hitherto buried in incomprehensible darkness.