Background: This invited paper is the result of an invitation to write a retrospective article on a "TSE most influential paper" as part of the journal's 50th anniversary. Objective: To reflect on the progress of software engineering prediction research using the lens of a selected, highly cited research paper and 28 years of hindsight. Methods: The paper examines (i) what was achieved, (ii) what has endured and (iii) what could have been done differently with the benefit of retrospection. Conclusions: While many specifics of software project effort prediction have evolved, key methodological issues remain relevant. The original study emphasised empirical validation with benchmarks, out-of-sample testing and data/tool sharing. Four areas for improvement are identified: (i) stronger commitment to Open Science principles, (ii) focus on effect sizes and confidence intervals, (iii) reporting variability alongside typical results and (iv) more rigorous examination of threats to validity.