This publication is the edited transcript of a four-hour roundtable discussion of the impact of federal block grants. Participating in the discussion were representatives of four organizations conducting major research on five federal block grant programs--the Advisory Commission on Intergovernmental Relations, the Brookings Institution, the National Academy of Sciences, and the Urban Institute. Each of the five block grant studies is described briefly, then representatives of the various research organizations discuss the impact and success of block grants, as well as the similarities and differences between block grants and other federal programs. The block grant programs discussed include "Partnership for Health," the "Safe Streets Act," the "Comprehensive Employment and Training Act," Title XX of the "Social Security Act," and the Community Development Block Grant portion of the "Housing and Community Development Act of 1974." (JG)