Heavy quark expansion in beauty: recent successes and problems
  The status of the QCD-based heavy quark expansion is briefly reviewed. A good agreement between properly applied theory and new precision data is observed. Critical remarks on certain recent claims from HQET are presented. Recent applications to the exclusive heavy flavor transitions are addressed. The `1/2 > 3/2' problem for the transitions into the charm P-wave states is discussed. 
Nikolai Uraltsev