  We summarize the results of recent theoretical work on the dynamical
evolution of globular clusters containing primordial binaries. Even a very
small initial binary fraction (e.g., 10%) can play a key role in supporting a
cluster against gravothermal collapse for many relaxation times. Inelastic
encounters between binaries and single stars or other binaries provide a very
significant energy source for the cluster. These dynamical interactions also
lead to the production of large numbers of exotic systems such as ultracompact
X-ray binaries, recycled radio pulsars, double degenerate systems, and blue
stragglers. Our work is based on a new parallel supercomputer code implementing
Henon's Monte Carlo method for simulating the dynamical evolution of dense
stellar systems in the Fokker-Planck approximation. This new code allows us to
calculate very accurately the evolution of a cluster containing a realistic
number of stars (N ~ 10^5 - 10^6) in typically a few hours to a few days of
computing time. The discrete, star-by-star representation of the cluster in the
simulation makes it possible to treat naturally a number of important
processes, including single and binary star evolution, all dynamical
interactions of single stars and binaries, and tidal interactions with the
Galaxy.
