Twenty years after Nostra Aetate opened unprecedented pathways for Catholic-Jewish dialogue in 1965, the promise of transformed interfaith relations remains only partially fulfilled. While the declaration sparked initial enthusiasm and programming between the faiths, sustained dialogue has largely retreated to specialized scholarly circles rather than achieving broad institutional embrace. Through analysis of key Vatican documents—particularly the 1975 "Guidelines on Religious Relations with the Jews" and the 1985 "Notes on the Correct Way to Present Jews and Judaism"—a complex picture emerges of both progress and persistent tensions. The 1985 "Notes" exemplify this duality, offering positive affirmations of Jewish-Catholic relations while containing language that potentially reinforces supersessionist theology. Jewish participation in these dialogues appears primarily motivated by contemporary political concerns, especially regarding Israel, rather than theological engagement. Despite these limitations, the dialogue remains in its early stages, with continued incremental progress in Catholic-Jewish understanding proving both possible and necessary for advancing interfaith relations.