  A detailed and comprehensive study of the one-impurity multichannel Kondo
model is presented. In the limit of a large number of conduction electron
channels $k \gg 1$, the low energy fixed point is accessible to a
renormalization group improved perturbative expansion in $1/k$. This
straightforward approach enables us to examine the scaling, thermodynamics and
dynamical response functions in great detail and make clear the following
features: i) the criticality of the fixed point; ii) the universal non-integer
degeneracy; iii) that the compensating spin cloud has the spatial extent of the
order of one lattice spacing.
