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Summary form only given. Recent advancements of gate stack engineering have enabled the introduction of high-k/metal gates into mainstream CMOS device applications for 45 nm and beyond technology space. In this talk, we take a critical look back into the key steps which made this possible with primary focus on transport phenomena in transistors in presence of high-k/metal gates. Against this backdrop, the interaction of high-k/metal gates with end of roadmap devices would be thoroughly explored. High-k/metal gates have interesting ramifications in the circuit space-from NBTI (negative bias temperature instability) to high-field mobility, the high-k gate induced physical phenomena and their impact on device and circuit performance and reliability would be discussed. To conclude, this talk would also conjecture on the continued scalability of high-k gate stacks for futuristic CMOS device architectures.