  We investigate the dynamics and gravitational-wave (GW) emission in the
binary merger of equal-mass black holes as obtained from numerical relativity
simulations. Results from the evolution of three sets of initial data are
explored in detail, corresponding to different initial separations of the black
holes. We find that to a good approximation the inspiral phase of the evolution
is quasi-circular, followed by a "blurred, quasi-circular plunge", then merger
and ring down. We present first-order comparisons between analytical models of
the various stages of the merger and the numerical results. We provide
comparisons between the numerical results and analytical predictions based on
the adiabatic Newtonain, post-Newtonian (PN), and non-adiabatic resummed-PN
models. From the ring-down portion of the GW we extract the fundamental
quasi-normal mode and several of the overtones. Finally, we estimate the
optimal signal-to-noise ratio for typical binaries detectable by GW
experiments.
