This publication summarizes the main conclusions of a national survey of 925 public school principals and 1,006 superintendents. The survey was intended to bring about a better understanding of the day-to-day realities school leaders face. The survey asked the principals and superintendents about their priorities, most pressing problems, and perspectives on the state of the profession of educational leadership. It gathered information about the issues principals and superintendents face in large districts versus small districts and in urban, suburban, and rural areas. Findings from the survey revolved around the following themes: (1) insufficient funding; (2) the overregulation and micromanagement of schools; (3) the challenges of school leadership; (4) the politics of education; (5) the standards and accountability movement; (6) the mandates of the No Child Left Behind Act; (7) improving teacher quality; (8) teacher tenure; (9) the role of the principal; and (10) the role of the superintendent. The text is supplemented with numerous graphs, charts, and tables. The report also contains the survey's complete methodology and complete survey questions and results. (WFA)