We study the determination of gamma from CP-violating observables in B -> pi+
pi- and B -> psi K_S. This determination requires theoretical input to one
combination of hadronic parameters. We show that a mild assumption about this
quantity may allow bounds to be placed on gamma, but we stress the pernicious
effects that an eightfold discrete ambiguity has on such an analysis. The
bounds are discussed as a function of the direct (C) and interference (S)
CP-violating observables obtained from time-dependent B -> pi+ pi- decays, and
their behavior in the presence of new physics effects in B-Bbar mixing is
studied. (V2: Misprints corrected. Slightly improved discussion.)Comment: 11 pages, RevTex 4, 5 eps figures include