  Non-compact lattice QED with two flavors of light dynamical quarks is
simulated on $16^4$ lattices, and the chiral condensate, monopole density and
susceptibility and the meson masses are measured. Data from relatively high
statistics runs at relatively small bare fermion masses of 0.005, 0.01, 0.02
and 0.03 (lattice units) are presented. Three independent methods of data
analysis indicate that the critical point occurs at $\beta =0.225(5)$ and that
the monopole condensation and chiral symmetry breaking transitions are
coincident. The monopole condensation data satisfies finite size scaling
hypotheses with critical indices compatible with four dimensional percolation.
The best chiral equation of state fit produces critical exponents
($\delta=2.31$, $\beta_{mag}=0.763$) which deviate significantly from mean
field expectations. Data for the ratio of the sigma to pion masses produces an
estimate of the critical index $\delta$ in good agreement with chiral
condensate measurements. In the strong coupling phase the ratio of the meson
masses are $M_\sigma^2/M_\rho^2\approx 0.35$, $M_{A_1}^2/M_\rho^2\approx 1.4$
and $M_\pi^2/M_\rho^2\approx 0.0$, while on the weak coupling side of the
transition $M_\pi^2/M_\rho^2\approx 1.0$, $M_{A_1}^2/M_\rho^2\approx 1.0$,
indicating the restoration of chiral symmetry.\footnote{$\,^{}$}{August 1992}
