The current developments in photoredox chemistry are stimulating a renewed interest for bimolecular photoinduced electron transfer reactions. Their investigation, initiated in the 1960s using conventional photochemical tools, resulted in a relatively simple reaction scheme. More recent studies, using not only spectroscopic techniques with better time resolution and extended spectral/temporal windows but also molecular dynamics simulations, reveal a more complex picture. This Perspective focuses on the results of these latest studies with neutral organic reactants, highlighting the time dependence of the quenching rate, the effect of mutual orientation of the reactants on the electronic coupling, and their consequence on the nature of the reaction product. Remaining questions, such as the occurrence of distant electron transfer in nonviscous liquids are also addressed, and possible directions toward their answer are proposed.