  I review new results on particles containing a charm or bottom quark,
focusing on measurements that give insight into the dynamics of the decay
process. Leptonic and semileptonic decays are the simplest modes, and they
provide detailed tests of theoretical predictions based on methods such as
lattice QCD, heavy quark effective theory, and QCD sum rules. Although hadronic
decays are much more complicated, the factorization hypothesis makes
predictions that, at least for certain processes, are in accord with
measurements. I also emphasize the importance of precise measurements of
branching fractions for normalizing modes, whose uncertainties propagate into
many other quantities. Rare hadronic decays are now becoming accessible to
several experiments, and I discuss new results and their implications. Finally,
I review b-hadron lifetime measurements, which are steadily improving in
precision and which indicate a significant difference between B-meson and
b-baryon lifetimes.
