  The interplay of experiment and theory is explored in the context of current
data on b and c decay. Measurements of |Vcb| and |Vub| are extracted from
existing data. Conservative estimates give |Vcb|=(42.4 +/- 1.2{exp} +/-
2.3{thy})x10^{-3} and |Vub|=(3.90 +/- 0.16{exp} +/- 0.53{thy})x10^{-3}. Using
these values along with data on Bd, Bs mixing and CP violation in the K_{Long}
system, the allowed region of the CKM parameters rho and eta is derived. Tests
of factorization in two-body hadronic B decays to one heavy and one light meson
are shown and compared with modern theories which are also used to see if there
is new physics in two-body B decays to light mesons. The two new narrow D_{sJ}
states, discovered by BaBar and CLEO, respectively, are interpreted in light of
the observation of these states in B decays by Belle.
