  We calculate the light-cone wavefunctions of the pion by solving the meson
boundstate problem in a coarse transverse lattice gauge theory using DLCQ. A
large-N_c approximation is made and the light-cone Hamiltonian expanded in
massive dynamical fields at fixed lattice spacing. In contrast to earlier
calculations, we include contributions from states containing many gluonic
link-fields between the quarks.The Hamiltonian is renormalised by a combination
of covariance conditions on boundstates and fitting the physical masses M_rho
and M_pi, decay constant f_pi, and the string tension sigma. Good covariance is
obtained for the lightest 0^{-+} state, which we identify with the pion. Many
observables can be deduced from its light-cone wavefunctions.After perturbative
evolution,the quark valence structure function is found to be consistent with
the experimental structure function deduced from Drell-Yan pi-nucleon data in
the valence region x > 0.5. In addition, the pion distribution amplitude is
consistent with the experimental distribution deduced from the pi gamma^* gamma
transition form factor and diffractive dissociation. A new observable we
calculate is the probability for quark helicity correlation. We find a 45%
probability that the valence-quark helicities are aligned in the pion.
