There's some great skiing to be had. Pistes are in good condition in general - hard-packed in most places, but on many runs with nice, grippy snow.
That's the positive side of the story. Some of the steeper sections of piste are patchy and some runs have small stones scattered around (although not big enough to damage skis). It's lower down where it looks worrying for lower-altitude resorts.
Val Thorens sits at 2300m - it's the highest ski resort in Europe - but below 1900m the slopes are significantly short of snow.
This photo, taken from the top of Cime de Caron, shows the situation in the Belleville valley. The snowline is around Les Menuires (~1800m) and St Martin has no snow at all.
There is snow forecast for the middle of next week. Let's hope it's a decent snowfall, or it could be a second year that the Alps struggles for snow at Christmas.