"Straight A's: Public Education Policy and Progress" is a biweekly newsletter that focuses on education news and events both in Washington, DC and around the country. The following articles are included in this issue: (1) How's the Water?: Congressional Hearing on High School Reform Recognizes the Crisis, but Urges Caution Before Headfirst Plunge from the Federal Government; (2) The $14 Billion Question: New Report to California Lawmakers Offers a Strategic Approach to Improving State's High Schools; (3) Nail in the Coffin?: Prospects for President's High School Proposal Grow Dim as Perkins Reauthorization Moves to Conference; and (4) Survey Finds that High School Students Spend Little Time on Class Preparation, Almost No Time Reading. (Contains 1 footnote.)