Re: How common is substantial, very fast variability? Regarding V4641 Sgr, please have a look at the following preprint (will appear as a journal publication next month) by the VSNET Collaboration. http://vsnet.kusastro.kyoto-u.ac.jp/pub/vsnet/preprints/V4641_Sgr/ This letter gives a physical explanation why we can see rapid variations in the optical(!) from a black-hole binary. Things are more natural (but not yet fully understood) in CVs (i.e. white-dwarf binary), an example with some historical overview: http://vsnet.kusastro.kyoto-u.ac.jp/pub/vsnet/preprints/KR_Aur/ Regards, Taichi Kato