We find, from high-resolution hydro simulations, that winds from AGN effectively heat the inner parts (~100 pc) of elliptical galaxies, reducing infall to the central SMBH; and radiative (photoionization and X-ray) heating reduces cooling flows at the kpc scale. Including both types of feedback with (peak) efficiencies of 3 10^{-4} < epsilon_mech < 10^{-3} and of epsilon_rad ~10^{-1.3} respectively, produces systems having duty-cycles, central SMBH masses, X-ray luminosities, optical light profiles, and E+A spectra in accord with the broad suite of modern observations of massive elliptical systems. Our main conclusion is that mechanical feedback (including all three of energy, momentum and mass) is necessary but the efficiency, based on several independent arguments must be a factor of 10 lower than is commonly assumed. Bursts are frequent at z>1 and decline in frequency towards the present epoch as energy and metal rich gas are expelled from the galaxies into the surrounding medium. For a representative galaxy of final stellar mass ~3 10^{11} Msun, roughly 3 10^{10} Msun of recycled gas has been added to the ISM since z~2 and, of that, roughly 63% has been expelled from the galaxy, 19% has been converted into new metal rich stars in the central few hundred parsecs, and 2% has been added to the central SMBH, with the remaining 16% in the form hot X-ray emitting ISM. The bursts occupy a total time of ~170 Myr, which is roughly 1.4% of the available time. Of this time, the central SMBH would be seen as an UV or optical source for ~45% and ~71$% of the time, respectively. Restricting to the last 8.5 Gyr, the burst occupy ~44 Myr, corresponding to a fiducial duty-cycle of ~5 10^{-3}.
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