New developments in thin-film magnetism are reviewed with an emphasis on the ultrathin regime. Relatively simple metallic systems in overlayer, sandwich, and superlattice configurations are covered. Sample fabrication, characterization, and magnetic measurement techniques are outlined, highlighting some of the more modern experimental innovations. Current issues and advances that demonstrate the symbiotic relationship between experiment and theory are examined, including surface magnetic anisotropy, two-dimensional critical behavior, the creation of metastable phases by epitaxy, and phenomena associated with coupled magnetic layers. A brief account is given of the impact of the various developments on applications. >