  Octet and decuplet baryon magnetic moments have been formulated within the
\chiQM with configuration mixing incorporating the sea quark polarizations and
their orbital angular momentum through the generalization of the Cheng-Li
mechanism. When the parameters of \chiQM without configuration mixing are fixed
by incorporating the latest data pertaining to $\bar u-\bar d$ asymmetry (E866)
and the spin polarization functions, in the case of octet magnetic moments the
results not only show improvement over the nonrelativistic quark model results
but also give a non zero value for the right hand side of Coleman-Glashow sum
rule, usually zero in most of the models. When effects of configuration mixing
and ``mass adjustments'' due to confinement are included, in the case of p,
\Sigma^+, \Xi^o, the \Sigma \Lambda transition magnetic moment and the
violation of Coleman Glashow sum rule an almost perfect agreement with data is
obtained. In the case of decuplet magnetic moments, we obtain a good overlap
for \Delta^{++}, \Omega^- and the transition magnetic moment $\Delta N$ for
which data are available. In case, we incorporate in our analysis the gluon
polarization \Delta g, found phenomenologically through the relation
\Delta\Sigma(Q^2)=\Delta\Sigma-\frac{3\alpha_s(Q^2)}{2\pi}\Delta g(Q^2), we not
only obtain improvement in the quark spin distribution functions and magnetic
moments but also the value of \Delta g comes out to be in good agreement with
certain recent measurements as well as theoretical estimates.
