The Unreasonable Success of CKM Theory

CKM theory has scored novel successes recently, namely vindication of weak universality and its first decisive test in CP studies. While this does not weaken the case for New Physics, one cannot count on the latter to induce large discrepancies in future studies. To establish smallish deviations one needs precise predictions; those in turn require accurate CKM parameters. I list strategies for extracting $V(cb)$, $V(ub)$ and $V(td)$. After short comments on New Physics in semileptonic B decays and on $\Delta \Gamma (B_s)$ I review the CP phenomenology in B decays and stress that a comprehensive program of studying flavour dynamics has to form an essential complement of our next adventure, uncovering the physics behind the electroweak phase transition.