Telecom Italia Telecom Italia Bell Labs Bell Labs Peer-to-peer traffic optimization techniques that aim at improving locality in the peer selection process have attracted great interest in the research community and have been subject of much discussion. Some of this discussion has produced controversial myths, some rooted in reality while others remain unfounded. This document evaluates the most prominent myths attributed to P2P optimization techniques by referencing the most relevant study (or studies) that have addressed facts pertaining to the myth. Using these studies, we hope to either confirm or refute each specific myth.