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The purpose of this paper is to explore some implications for policy and practice of findings from a national research project evaluating the contribution of competency-based training (CBT) to outcomes in vocational education and training (VET). This exploration will include analysis of the co-implications of research and practice (eg. the role of practitioner-researchers). The argument is made that CBT, contrary to its image in the public policy literature, is not a singular and universal model of VET. Rather it embeds a series of radically different decisions or options with regard to notions of competency and the use of competencies or competency standards. These decisions or options, once enacted, give rise to transformed models of VET. The further argument is made that these models need not be seen as alternatives. Rather, it appears that they interact - support and/or challenge one another, as well as support and/or challenge CBT. The conclusion is drawn that while all of these models have a place in the process of competence development, as well as their particular strengths and weaknesses, models that maintain the tension between a focus on the outcomes of education and training and a focus on processes of educating and training, rather than resolve this tension in favour of outcomes, are most appropriate in VET.