  The International Linear Collider is now proposed with a staged machine
design, with the first stage at 250 GeV with a luminosity goal of 2 ab-1. In
this paper, we review the physics expectations for this machine. These include
precision measurements of Higgs boson couplings, searches for exotic Higgs
decays, other searches for particles that decay with zero or small visible
energy, and measurements of e+e- annihilation to W+W- and 2-fermion states with
improved sensitivity. A summary table gives projections for the achievable
levels of precision based on the latest full simulation studies.
