High resolution quantum beat spectroscopy has been realized to study atomic wave packet dynamics. Wave packets comprising pairs of low quantum number (n = 5 - 8) electronic states were formed in Rb vapor with ultrafast laser pulses, and their dynamics was observed by an all-optical technique of parametric four wave mixing (PFWM). The experimental apparatus designed, constructed and automated for this work provided unprecedented signal intensity that enabled time-frequency-resolved analysis of wave packet dynamics with picosecond temporal resolution over the course of 1100 ps. Both time-resolved and non-time-resolved discrete Fourier methods were applied to measure the concurrent formation of multiple wave packets. Many novel effects and interactions have been measured either for the first time or with greatly improved signal-to-noise ratio. Among them were the formation of the 8S1/2 - 6D5/2 wave packet that was not directly excited by the ultrafast radiation, formation and relative dynamics of quantum beating harmonics up to 73 THz, and quantum beating revivals. The effects of vapor number density and temperature were analyzed experimentally. Interference between the 7S1/2 - 5D5/2 and 8S1/2 - 6D5/2 wave packets (frequencies of 18.225 THz and 10.73 THz, respectively) has been observed for the first time and will be described in detail
