For nearly four decades, magnet schools have been an important element of American public school education. They have offered innovative programs not generally available in local schools and provided opportunities for students to learn in racially diverse environments. Magnet schools have been particularly important in districts that are trying to desegregate. This report examines the progress of MSAP (Magnet Schools Assistance Program) projects in achieving four legislative purposes of the Magnet Schools Assistance Program, including reducing minority group isolation, improving student achievement, promoting systemic reform, and encouraging innovative educational methods and practices. Also includes a glossary.(Contains 50 references and 32 exhibits.) (Author/MA)