diff --git a/pep-0501.txt b/pep-0501.txt
index efd9e0adc..ce01a250a 100644
--- a/pep-0501.txt
+++ b/pep-0501.txt
@@ -243,6 +243,17 @@ to the following::
 Conversion specifiers
 ---------------------
 
+NOTE:
+
+   Appropriate handling of conversion specifiers is currently an open question.
+   Exposing them more directly to custom renderers would increase the
+   complexity of the ``InterpolationTemplate`` definition without providing an
+   increase in expressiveness (since they're redundant with calling the builtins
+   directly). At the same time, they *are* made available as arbitary strings
+   when writing custom ``string.Formatter`` implementations, so it may be
+   desirable to offer similar levels of flexibility of interpretation in
+   interpolation templates.
+
 The ``!a``, ``!r`` and ``!s`` conversion specifiers supported by ``str.format``
 and hence PEP 498 are handled in interpolation templates as follows:
 
@@ -277,6 +288,14 @@ For example, the following function would render a template using objects'
             return format(repr(value), specifier)
         return template.render(render_field=render_field)
 
+When writing custom renderers, note that the return type of the overall
+rendering operation is determined by the return type of the passed in ``render_template`` callable. While this is expected to be a string in most
+cases, producing non-string objects *is* permitted. For example, a custom
+template renderer could involve an ``sqlalchemy.sql.text`` call that produces
+an `SQL Alchemy query object <http://docs.sqlalchemy.org/en/rel_1_0/core/tutorial.html#using-textual-sql>`__.
+
+Non-strings may also be returned from ``render_field``, as long as it is paired
+with a ``render_template`` implementation that expects that behaviour.
 
 Expression evaluation
 ---------------------
@@ -453,7 +472,7 @@ templates can still be prerendered with ``format``, rather than delegating the
 rendering to the called function.
 
 This reflects the key difference from PEP 498, which *always* eagerly applies
-the default rendering, without any convenient way to delegate that choice to
+the default rendering, without any way to delegate the choice of renderer to
 another section of the code.
 
 Preserving the raw template string
@@ -503,7 +522,11 @@ Due to the original design of the ``str.format`` substitution syntax in PEP
 3101 being inspired by C#'s string formatting syntax, the specific field
 substitution syntax used in PEP 498 is consistent not only with Python's own ``str.format`` syntax, but also with string formatting in C#, including the
 native "$-string" interpolation syntax introduced in C# 6.0 (released in July
-2015). This means that while this particular substitution syntax may not
+2015).  The related ``IFormattable`` interface in C# forms the basis of a
+`number of elements <https://msdn.microsoft.com/en-us/library/system.iformattable.aspx>`__ of C#'s internationalization and localization
+support.
+
+This means that while this particular substitution syntax may not
 currently be widely used for translation of *Python* applications (losing out
 to traditional %-formatting and the designed-specifically-for-i18n
 ``string.Template`` formatting), it *is* a popular translation format in the
@@ -547,6 +570,9 @@ References
 .. [#] FormattableString and C# native string interpolation
        (https://msdn.microsoft.com/en-us/library/dn961160.aspx)
 
+.. [#] IFormattable interface in C# (see remarks for globalization notes)
+       (https://msdn.microsoft.com/en-us/library/system.iformattable.aspx)
+
 .. [#] Running external commands in Julia
        (http://julia.readthedocs.org/en/latest/manual/running-external-programs/)