Although penetration, softening point and high temperature viscosity are empirically or semiempirically based tests, specifically designed to determine the consistency of conventional, penetration grade bitumens, they are still being used in practice to quantify the effects of polymer modification. However, depending on the degree of polymer modification, the modification process can significantly alter the rheological properties of the binder, which are not necessarily characterised by conventional binder properties. This has lead to an increased interest in the use of fundamental rheological parameters to specify polymer modified bitumens (PMBs). This paper provides a critical evaluation of the effect of polymer modification on the rheological properties of various elastomeric and plastomeric PMBs as measured by conventional (empirical and semiempirical) methods as well as fundamental rheological methods using a Dynamic Shear Rheometer (DSR). The results indicate that the penetration and high temperature viscosity tests can only indicate the effect of polymer modification as a filler-type mechanism. Softening point tests provide some indication of the presence of a dominant polymer network, but only dynamic mechanical analysis using a DSR and fundamental rheological parameters, such as complex modulus and phase angle, can completely quantify the effects of polymer modification and the unique rheological characteristics associated with different polymer types.