An international meeting was held on the development and application of replicating viruses for cancer therapy this past March in Banff, Alberta. In this review, using the presentations at this meeting as a backdrop, we discuss how recent scientific and clinical findings are reshaping the development of oncolytic virus therapeutics. Here we identify some of the obstacles that these therapeutics face and discuss evolving strategies, both preclinically and clinically, that are facilitating oncolytic virus development.