We analyze the time--dependent solutions of the pseudo--differential
L\'evy--Schr\"odinger wave equation in the free case, and we compare them with
the associated L\'evy processes. We list the principal laws used to describe
the time evolutions of both the L\'evy process densities, and the
L\'evy--Schr\"odinger wave packets. To have self--adjoint generators and
unitary evolutions we will consider only absolutely continuous, infinitely
divisible L\'evy noises with laws symmetric under change of sign of the
independent variable. We then show several examples of the characteristic
behavior of the L\'evy--Schr\"odinger wave packets, and in particular of the
bi-modality arising in their evolutions: a feature at variance with the typical
diffusive uni--modality of both the L\'evy process densities, and the usual
Schr\"odinger wave functions.Comment: 41 pages, 13 figures; paper substantially shortened, while keeping
intact examples and results; changed format from "report" to "article";
eliminated Appendices B, C, F (old names); shifted Chapters 4 and 5 (old
numbers) from text to Appendices C, D (new names); introduced connection
between Relativistic q.m. laws and Generalized Hyperbolic law
