In the past few years, programmatic changes at NASA, issues raised by the NRC report, Connecting Quarks with the Cosmos: Eleven Science Questions for the New Century(CQC), and scientific and technological advances combined to prompt consideration of a reexamination of the overall science strategy set forth in Astronomy and Astrophysics in the New Millennium (AANM). Discussions followed between the Board on Physics and Astronomy and NASA and NSF that resulted in a request by the two agencies to prepare a short report addressing the points leading up to calls for the reexamination. The report was also to assess progress towards the vision set forth in the AANM and CQC studies. This letter report presents the result of that study. It reviews the context that led up to the request and the most exciting advances in astronomy and astrophysics and key technological developments since the AAMN report was published, and it provides an outlook for fulfilling the decadal vision of the two previous studies.