This article provides a summary of and commentary on ‘A Lovely Kind of Madness: Small and Independent Publishing in Australia’, an unpublished report by Kate Freeth, commissioned by the Small Press Underground Networking Community (SPUNC), the representative body for small and independent publishers in Australia, and released in November 2007. Freeth’s 14,000 word report constitutes the most detailed and comprehensive study of Australian small and independent publishing since the second volume of Michael Denholm’s Small Press Publishing in Australia (1991) and provides much primary material for policy makers, scholars, and people working in and around the publishing industry.