  Heavy-light bound states are studied in Lattice QCD with emphasis on
parameters of the B-system relevant to experiment. Results are obtained on
lattices with lattice spacings from about 0.15 fm to 0.06 fm corresponding to
$\beta=5.74, 6.0$ and 6.26, and covering sizes from about 0.7 fm to 2 fm. From
our results at the infinite quark mass limit and from propagating heavy quarks
with mass of about 1-2.5 GeV we extrapolate to the b-quark mass to obtain the
decay constant of the B-meson as well as the mass of $\Lambda_b$ in the
continuum. The necessary extrapolations introduce rather large errors and lead
to the value $f_B=180(50)$ MeV. We compare with the results from other lattice
groups as well as with predictions coming from sum rules. The phenomenological
consequences of this value of $f_B$, together with new experimental
constraints, are briefly discussed.
