Piron's axioms for a realistically interpreted quantum mechanics are analyzed in detail within the context of a formal mathematical structure expressed in the conventional set-theoretic idiom of mathematics. As a result, some of the serious misconceptions that have encouraged recent criticisms of Piron's axioms are exposed.

In orthodox quantum mechanics, it has virtually become the custom to identify properties of a physical system with operationally testable propositions about the system. The causes and consequences of this practice are explored mathematically in this paper. Among other things, it is found that such an identification imposes severe constraints on the admissible states of the physical system.