Data collected and analyzed in this study over a three-year period lend credence to the notion that professional judgment is a reliable and stable criterion variable for teacher education research. Participants included 209 student teachers, 131 classroom teachers, and 27 university teacher trainers. Student teachers were ranked according to their teaching effectiveness by their supervising teachers, their university methods instructors and supervisors, their fellow student teachers, and by a self-rating procedure. Fourteen of fifteen correlations among the various effectiveness rankings were positive and statistically significant at the .01 level. The remaining correlation was positive and significant at the .04 level. Student teachers ranked as the most effective professionally tended to be the most satisfied with their field-based teacher preparation program. Student teacher satisfaction with their training program was measured through use of the Purdue Student Teacher Opinionaire (PSTO). Supervising teachers expressed their perception of student teacher satisfaction by completing a Modified PSTO. There was considerable congruence between student teacher expressed satisfaction and teacher perception of the degree of student teacher satisfaction. (Author/MM)