This work explores the effectiveness of current Calphad-based tools in describing thermodynamic and kinetic behavior of Co-based γ’-strengthened superalloys, including phase equilibria, diffusion and microstructural evolution, and various thermophysical properties such as molar volume and thermal expansion. Compositions with desirable properties are identified and tested experimentally to evaluate the predictive capabilities of the present generation of Calphad databases. Current thermodynamic databases of multicomponent Co-based alloys demonstrate a reasonable ability to predict composition regions where deleterious phases may not form. However, shortcomings arise in properly identifying the γ’ solvus temperatures and volume fractions, as well as solidus and liquidus temperatures. Current efforts to build the next generation of Calphad-based thermodynamic and atomic mobility modeling tools are discussed; along with incorporating essential thermophysical properties, including temperature-dependent molar volume and elastic property descriptions.