  We report the results of the counterpart identification and a detailed
analysis of the physical properties of the 48 sources discovered in our deep
1.1mm wavelength imaging survey of the GOODS-South field using the AzTEC
instrument on the Atacama Submillimeter Telescope Experiment (ASTE). One or
more robust or tentative counterpart candidate is found for 27 and 14 AzTEC
sources, respectively, by employing deep radio continuum, Spitzer MIPS & IRAC,
and LABOCA 870 micron data. Five of the sources (10%) have two robust
counterparts each, supporting the idea that these galaxies are strongly
clustered and/or heavily confused. Photometric redshifts and star formation
rates (SFRs) are derived by analyzing UV-to-optical and IR-to-radio SEDs. The
median redshift of z~2.6 is similar to other earlier estimates, but we show
that 80% of the AzTEC-GOODS sources are at z>2, with a significant high
redshift tail (20% at z>3.3). Rest-frame UV and optical properties of AzTEC
sources are extremely diverse, spanning 10 magnitude in the i- and K-band
photometry with median values of i=25.3 and K=22.6 and a broad range of red
colour (i-K=0-6). These AzTEC sources are some of the most luminous galaxies in
the rest-frame optical bands at z>2, with inferred stellar masses of (1-30) x
10^{10} solar masses and UV-derived star formation rates of SFR(UV) > 10-1000
solar masses per year. The IR-derived SFR, 200-2000 solar masses per year, is
independent of redshift or stellar mass. The resulting specific star formation
rates, SSFR = 1-100 per Gyr, are 10-100 times higher than similar mass galaxies
at z=0, and they extend the previously observed rapid rise in the SSFR with
redshift to z=2-5. These galaxies have a SFR high enough to have built up their
entire stellar mass within their Hubble time. We find only marginal evidence
for an AGN contribution to the near-IR and mid-IR SEDs. (abridged)
