  Measurements of many Standard Model constants are clouded by uncertainties in
nonperturbative QCD parameters that relate measurable quantities to the
underlying parton-level processes. Generally these QCD parameters have been
obtained from model calculations with large uncertainties that are difficult to
quantify. The CLEO Collaboration has taken a major step towards reducing these
uncertainties in determining the CKM matrix elements Vcb and Vub using new
measurements of the branching fraction and photon energy spectrum of B -> s
gamma decays. This report includes: the new CLEO measurements of B -> s gamma
decays, Vcb, and Vub; the first results from CLEO III data -- studies of B -> K
pi, pi pi, and K Kbar decays; mention of some other recent CLEO B decay
results; and plans for operating CESR and CLEO in the charm threshold region.
