  In important recent developments, new Sasaki-Einstein spaces $Y^{p,q}$ and
conformal gauge theories dual to $AdS_5\times Y^{p,q}$ have been constructed.
We consider a stack of N D3-branes and M wrapped D5-branes at the apex of a
cone over $Y^{p,q}$. Replacing the D-branes by their fluxes, we construct
asymptotic solutions for all p and q in the form of warped products of the cone
and $R^{3,1}$. We show that they describe cascading RG flows where N decreases
logarithmically with the scale. The warp factor, which we determine explicitly,
is a function of the radius of the cone and one of the coordinates on
$Y^{p,q}$. We describe the RG cascades in the dual quiver gauge theories, and
find an exact agreement between the supergravity and the field theory beta
functions. We also discuss certain dibaryon operators and their dual wrapped
D3-branes in the conformal case M=0.
