  NGC 7129 is a bright reflection nebula located in the molecular cloud complex
near l=105.4, b=+9.9, about 1.15 kpc distant. Embedded within the reflection
nebula is a young cluster dominated by a compact grouping of four early-type
stars: BD+65 1638 (B3V), BD+65 1637 (B3e), SVS 13 (B5e), and LkH-alpha 234
(B8e). About 80 H-alpha emission sources brighter than V~23 are identified in
the region, many of which are presumably T Tauri star members of the cluster.
We also present deep (V~23), optical (VRI) photometry of a field centered on
the reflection nebula and spectral types for more than 130 sources determined
from low dispersion, optical spectroscopy. The narrow pre-main sequence evident
in the color-magnitude diagram suggests that star formation was rapid and
coeval. A median age of about 1.8 Myr is inferred for the H-alpha and
literature-identified X-ray emission sources having established spectral types,
using pre-main sequence evolutionary models. Our interpretation of the
structure of the molecular cloud and the distribution of young stellar objects
is that BD+65 1638 is primarily responsible for evacuating the blister-like
cavity within the molecular cloud. LkH-alpha 234 and several embedded sources
evident in near infrared adaptive optics imaging have formed recently within
the ridge of compressed molecular gas. The compact cluster of low-mass stars
formed concurrently with the early-type members, concentrated within a central
radius of ~0.7 pc. Star formation is simultaneously occurring in a
semi-circular arc some ~3 pc in radius that outlines remaining dense regions of
molecular gas. High dispersion, optical spectra are presented for BD+65 1638,
BD+65 1637, SVS 13, LkH-alpha 234, and V350 Cep. These spectra are discussed in
the context of the circumstellar environments inferred for these stars.
