ABSTRACT We reconsider the commonly held assumption that warm debris disks are tracers of terrestrial planet formation. The high occurrence rate inferred for Earth-mass planets around mature solar-type stars based on exoplanet surveys (∼20%) stands in stark contrast to the low incidence rate (≤2%-3%) of warm dusty debris around solar-type stars during the expected epoch of terrestrial planet assembly (∼10 Myr). If Earth-mass planets at au distances are a common outcome of the planet formation process, this discrepancy suggests that rocky planet formation occurs more quickly and/or is much neater than traditionally believed, leaving behind little in the way of a dust signature. Alternatively, the incidence rate of terrestrial planets has been overestimated, or some previously unrecognized physical mechanism removes warm dust efficiently from the terrestrial planet region. A promising removal mechanism is gas drag in a residual gaseous disk with a surface density 10−5 of the minimum-mass solar nebula.