diff --git a/pep-0492.txt b/pep-0492.txt
index 2bf52d6e0..a7c9c718e 100644
--- a/pep-0492.txt
+++ b/pep-0492.txt
@@ -701,6 +701,9 @@ New Standard Library Functions
 * ``inspect.iscoroutinefunction(obj)`` returns ``True`` if ``obj`` is a
   *native coroutine function*.
 
+* ``inspect.isawaitable(obj)`` returns ``True`` if ``obj`` is an
+  *awaitable*.
+
 * ``inspect.getcoroutinestate(coro)`` returns the current state of
   a *native coroutine object* (mirrors
   ``inspect.getfgeneratorstate(gen)``).
@@ -735,6 +738,20 @@ Abstract Base Classes (ABC) are added:
   implement ``send(value)``, ``throw(type, exc, tb)``, ``close()`` and
   ``__await__()`` methods.
 
+  Note that generator-based coroutines with ``CO_ITERABLE_COROUTINE``
+  flag do not implement ``__await__`` method, and therefore are not
+  instances of ``collections.abc.Coroutine`` and
+  ``collections.abc.Awaitable`` ABCs::
+
+      @types.coroutine
+      def gencoro():
+          yield
+
+      assert not isinstance(gencoro(), collections.abc.Coroutine)
+
+      # however:
+      assert inspect.isawaitable(gencoro())
+
 To allow easy testing if objects support asynchronous iteration, two
 more ABCs are added:
 
@@ -837,8 +854,6 @@ it:
 
 * recognizes ``async def`` ``NAME`` tokens combination;
 
-* keeps track of regular ``def`` and ``async def`` indented blocks;
-
 * while tokenizing ``async def`` block, it replaces ``'async'``
   ``NAME`` token with ``ASYNC``, and ``'await'`` ``NAME`` token with
   ``AWAIT``;
@@ -931,41 +946,6 @@ Grammar changes are fairly minimal::
     atom_expr: [AWAIT] atom trailer*
 
 
-Transition Period Shortcomings
-------------------------------
-
-There is just one.
-
-Until ``async`` and ``await`` are not proper keywords, it is not
-possible (or at least very hard) to fix ``tokenizer.c`` to recognize
-them on the **same line** with ``def`` keyword::
-
-    # async and await will always be parsed as variables
-
-    async def outer():                             # 1
-        def nested(a=(await fut)):
-            pass
-
-    async def foo(): return (await fut)            # 2
-
-Since ``await`` and ``async`` in such cases are parsed as ``NAME``
-tokens, a ``SyntaxError`` will be raised.
-
-To workaround these issues, the above examples can be easily rewritten
-to a more readable form::
-
-    async def outer():                             # 1
-        a_default = await fut
-        def nested(a=a_default):
-            pass
-
-    async def foo():                               # 2
-        return (await fut)
-
-This limitation will go away as soon as ``async`` and ``await`` are
-proper keywords.
-
-
 Deprecation Plans
 -----------------
 
@@ -1365,8 +1345,8 @@ List of high-level changes and new protocols
 6. New functions: ``sys.set_coroutine_wrapper(callback)``,
    ``sys.get_coroutine_wrapper()``, ``types.coroutine(gen)``,
    ``inspect.iscoroutinefunction(func)``, ``inspect.iscoroutine(obj)``,
-   ``inspect.getcoroutinestate(coro)``, and
-   ``inspect.getcoroutinelocals(coro)``.
+   ``inspect.isawaitable(obj)``, ``inspect.getcoroutinestate(coro)``,
+   and ``inspect.getcoroutinelocals(coro)``.
 
 7. New ``CO_COROUTINE`` and ``CO_ITERABLE_COROUTINE`` bit flags for code
    objects.