This collection of articles discusses the realities of Professional Development Schools (PDS) from the perspectives of school teachers, college faculty, college administrators, and other educational administrators. The articles focus on the five dimensions of PDS work (institutionalization, equity, standards and quality, inquiry, and financing). They include: "Introduction" (Nancy J. Lauter); "Institutionalizing Professional Development Schools: Successes, Challenges, and Continuing Tensions" (Lee Teitel, Charlotte Reed, Karen O'Connor, with Katherine Boles, Nancy J. Lauter, Vivian Troen, and Robert O. Williams); "The Cultural and Community Politics of Educational Equity: Toward a New Framework of Professional Development Schools" (Peter C. Murrell, Jr. and Mario Borunda);"Setting Standards for Professional Development Schools" (Jon Snyder, Betty Lou Whitford, and Robert O. Williams); "Inquiry and Professional Development Schools" (Barnett Berry, Katherine Boles, with Kellah Edens, Annalee Nissenholtz, and Roberta Trachtman); and "Financing Professional Development Schools" (Richard W. Clark). (Most articles contain references.) (SM)