Vernier offset thresholds for targets modulated in luminance or isoluminantly along the L-M axis were confirmed to be equal for targets whose contrasts were equal multiples of those required for detection. On the other hand, stereoscopic depth thresholds were elevated by a factor of 10 or more for isoluminantly modulated targets. Thresholds for vernier targets are 2 or 3 times larger with a gap of 20 arcmin than for a gap of 1 arcmin for both isoluminant and luminance targets. On the other hand, stereo thresholds decrease by a factor of 2 to 3 for both classes of target over the same range. We consider our results in the light of recent electrophysiological and psychophysical evidence and conclude that our results are consistent with the notion that stereo thresholds are mediated by a single class of mechanism for targets modulated in luminance or isoluminantly. We test and reject the hypothesis that stereopsis is subserved by independent chromatic and luminance mechanisms.