In recent years, the use and importance of predicted protein residue-residue contacts has grown considerably with demonstrated applications such as drug design, protein tertiary structure prediction and model quality assessment. Nevertheless, reported accuracies in the range of 25-35% stubbornly remain the norm for sequence based, long range contact predictions on hard targets. This is in spite of a prolonged effort on behalf of the community to improve the performance of residue-residue contact prediction. A thorough study of the quality of current residue-residue contact predictions and the evaluation metrics used as well as an analysis of current methods is needed to stimulate further advancement in contact prediction and its application. Such a study will better explain the quality and nature of residue-residue contact predictions generated by current methods and as a result lead to better use of this contact information.