diff --git a/README.md b/README.md
index 6121ba6..1f1303f 100644
--- a/README.md
+++ b/README.md
@@ -7,15 +7,43 @@ address and make them available to view via a web interface.
 It allows web developers, software engineers and system administrators to
 quickly see the emailed output of ther applications.  No per-account setup is
 required! Mailboxes are created on the fly as mail is received for them, and
-no password is required to browse the cotent of the mailboxes.
+no password is required to browse the content of the mailboxes.
 
 Inbucket has a built-in SMTP server and stores incoming mail as flat files on
 disk - no external SMTP or database daemons required.
 
-Status
-------
-Inbucket is currently in development.  It mostly works, but is not well
-tested or documented.
+Development Status
+------------------
+Inbucket is currently in the early stages of development.
+
+It can:
+
+ * Receive SMTP and ESMTP messages and store them to disk
+ * List subject, sender and date of messages for a particular mailbox
+ * Display the content of a particular message (text only)
+ * Display the source of a particular message (headers + body text)
+ * Delete a message
+
+It does not yet:
+
+ * Parse MIME multipart emails
+ * Display HTML email
+ * Display or download attachments
+
+Installation
+------------
+You will need a functioning [Go installation][1] for this to work. 
+
+    # From the base of your GOPATH...
+    go get github.com/robfig/revel
+    go get github.com/jhillyerd/inbucket
+    go build -o bin/revel github.com/robfig/revel/cmd
+    bin/revel run github.com/jhillyerd/inbucket
+
+By default the SMTP server will be listening on localhost port 2500 and
+the web interface will be available at [localhost:9000](http://localhost:9000/).
+
+Inbucket's configuration can be found in the `inbucket/conf/app.conf` file.
 
 About
 -----