Does the presence of perfectionist tendencies lead to more serious emotional issues or does it support enhanced achievement? Parents, educators, and gifted learners themselves often consider these issues as they deal with the ramifications of such perfectionist tendencies. Research presents conflicting views of social-emotional characteristics of gifted learners. "Some studies suggest that these children are highly motivated, well-adjusted, socially mature, open to new experiences, independent, and possess high self-concepts and a high tolerance for ambiguity." In contrast, other studies support the idea that giftedness accompanies a tendency to develop social-emotional difficulties, such as social isolation and loneliness, which may lead to depression, anxiety, phobias, and interpersonal problems. Since the studies of Hollingworth (1926, 1942), researchers have discussed social-emotional characteristics along with the resulting issues and problems of gifted children. However, little research has been done on the aspects of perfectionism and its relationship to affective variables in gifted and highly able children. This study focused on exploring the relationship between the perfectionism orientation of gifted and highly able children with the affective areas of depression, anxiety, and perfectionism. (Contains 2 tables.)