We perform a detailed comparison of the present LEP data with the one-loop standard model predictions. It is pointed out that for m(t) = 174 GeV the ''bulk'' of the data prefers a rather large value of the Higgs mass in the range of 500-1000 GeV, in agreement with the indications from the W mass. On the other hand, to accommodate a light Higgs it is crucial to include the more problematic data for the tau FB asymmetry. We discuss further improvements on the data which are required to obtain a firm conclusion.