We argue that high-precision lattice QCD is now possible, for the first time, because of a new improved staggered quark discretization. We compare a wide variety of nonperturbative calculations in QCD with experiment, and find agreement to within statistical and systematic errors of 3% or less. We also present a new determination of alpha_msbar(Mz); we obtain 0.121(3). We discuss the implications of this breakthrough for phenomenology and, in particular, for heavy-quark physics.
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