  (Abrigded) We report X-ray studies of the environs of SN 1998bw and GRB
980425 using the Chandra X-Ray Observatory 1281 days after the GRB. Combining
our observation of the supernova with others of the GRB afterglow, a smooth
X-ray light curve, spanning ~1300 days, is obtained by assuming the burst and
supernova were coincident at 35.6 Mpc. When this X-ray light curve is compared
with those of the X-ray ``afterglows'' of ordinary GRBs, X-ray Flashes, and
ordinary supernovae, evidence emerges for at least two classes of lightcurves,
perhaps bounding a continuum. By three to ten years, all these phenomena seem
to converge on a common X-ray luminosity, possibly indicative of the supernova
underlying them all. This convergence strengthens the conclusion that SN 1998bw
and GRB 980425 took place in the same object. One possible explanation for the
two classes is a (nearly) standard GRB observed at different angles, in which
case X-ray afterglows with intermediate luminosities should eventually be
discovered. Finally, we comment on the contribution of GRB afterglows to the
ULX source population.
