  We consider the calculation of the pion-photon transition form factor
$F^{\gamma^*\gamma\pi^0}(Q^2)$ within light-cone sum rules focusing attention
to the low-mid region of momenta. The central aim is to estimate the
theoretical uncertainties which originate from a wide variety of sources
related to (i) the relevance of next-to-next-to-leading order radiative
corrections (ii) the influence of the twist-four and the twist-six term (iii)
the sensitivity of the results on auxiliary parameters, like the Borel scale
$M^2$, (iv) the role of the phenomenological description of resonances, and (v)
the significance of a small but finite virtuality of the quasireal photon.
Predictions for $F^{\gamma^*\gamma\pi^0}(Q^2)$ are presented which include all
these uncertainties and found to comply within the margin of experimental error
with the existing data in the $Q^2$ range between 1 and 5 GeV$^2$, thus
justifying the reliability of the applied calculational scheme. This provides a
solid basis for confronting theoretical predictions with forthcoming data
bearing small statistical errors.
