  Recent results on the QCD analysis of bound states of heavy $\bar{q}q$ quarks
are reviewed, paying attention to what can be derived from the theory with a
reasonable degree of rigour. We report a calculation of $\bar{b}c$ bound
states; a very precise evaluation of $b, c$ quark masses from quarkonium
spectrum; the NNLO evaluation of $\Upsilon\to e^+e^-$; and a discussion of
power corrections. For the $b$ quark {\sl pole} mass we get, including
$O(m_c^2/m_b^2)$ and $O(\alpha_s^5\log \alpha_s)$ corrections,
$m_b=5.020\pm0.058 GeV$; and for the $\bar{MS}$ mass the result, correct to
$O(\alpha_s^3)$, $O(m_c^2/m_b^2)$, $\bar{m}_b(\bar{m}_b)=4.286\pm0.036 GeV$.
For the decay $\Upsilon\to e^+e^-$, higher corrections are too large to permit
a reliable calculation, but we can predict a toponium width of $13\pm1 keV$.

High Energy Physics - Phenomenology