  During the last four years several parameters relevant for the analysis of
the CP-violating ratio epsilon'/epsilon improved and/or changed significantly.
In particular, the experimental value of epsilon'/epsilon and the strange quark
mass decreased, the uncertainty in the CKM factor has been reduced, and for a
value of the hadronic matrix element of the dominant electroweak penguin
operator Q_8, some consensus has been reached among several theory groups. In
view of this situation, ten years after the first analyses of epsilon'/epsilon
at the next-to-leading order, we reconsider the analysis of epsilon'/epsilon
within the SM and investigate what can be said about the hadronic Q_6 matrix
element of the dominant QCD penguin operator on the basis of the present
experimental value of epsilon'/epsilon and todays values of all other
parameters.
  Employing a conservative range for the reduced electroweak penguin matrix
element R_8=1.0+-0.2 from lattice QCD, and present values for all other input
parameters, on the basis of the current world average for epsilon'/epsilon, we
obtain the reduced hadronic matrix element of the dominant QCD penguin operator
R_6=1.23+-0.16 implying <Q_6>_0^NDR(m_c) ~ -0.8 <Q_8>_2^NDR(m_c). We compare
these results with those obtained in large-N_c approaches in which generally
R_6 ~ R_8 and <Q_6>_0^NDR(m_c) is chirally suppressed relatively to
<Q_8>_2^NDR(m_c). We present the correlation between R_6 and R_8 that is
implied by the data on epsilon'/epsilon provided new physics contributions to
epsilon'/epsilon can be neglected.
