This report summarizes the results of a recent ELMO Bumpy Torus (EBT) reactor study that includes ring and core plasma properties with consistent treatment of coupled ring-core stability criteria and power balance requirements. The principal finding is that constraints imposed by these coupling and other physics and technology considerations permit a broad operating window for reactor design optimization. Within this operating window, physics and engineering systems analysis and cost sensitivity studies indicate that reactors with approx. 6 to 10%, P approx. 1200 to 1700 MW(e), wall loading approx. 1.0 to 2.5 MW/m/sup 2/, and recirculating power fraction (including ring-sustaining power and all other reactors auxiliaries) approx. 10 to 15% are possible. A number of concept improvements are also proposed that are found to offer the potential for further improvement of the reactor size and parameters. These include, but are not limited to, the use of: (1) supplementary coils or noncircular mirror coils to improve magnetic geometry and reduce size, (2) energetic ion rings to improve ring power requirements, (3) positive potential to enhance confinement and reduce size, and (4) profile control to improve stability and overall fusion power density.