A concise review of the experimental and phenomenological progress in
high-energy heavy-ion physics over the past few years is presented. Emphasis is
put on measurements at BNL-RHIC and CERN-SPS which provide information on
fundamental properties of QCD matter at extreme values of temperature, density
and low-x. The new opportunities accessible at the LHC, which may help clarify
some of the current open issues, are also outlined.Comment: Minor changes to text. New refs. included. Updated figures with final
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