The effect of nanometer grain size and extensive grain boundary regions in nanocrystalline alloy systems was investigated for the chemical order-disorder, structural, precipitation, and spinodal phase transformations. The kinetic paths for approach to the chemically ordered phase from the disordered phase in FeCo-Mo alloys were observed to be the same at different temperatures due to grain boundaries acting as short-circuited diffusion paths for atom movements. The structure of Fe3Ge was bcc for small crystallite size and the equilibrium fcc phase developed only after a critical grain size was attained. This was understood as a manifestation of the Gibbs Thomson effect. The precipitation phase transformation in Fe-Mo alloys proceeded by a rapid movement and clustering of the Mo atoms to the grain boundaries that was correlated to the size of the nano grains, and subsequent formation of the Mo rich lambda phase directly in the grain boundary regions. The composition fluctuation domains for spinodal decomposition in nanophase Fe-Cr alloys were observed to be linearly correlated to the growth of grains. (C) 2004 Kluwer Academic Publishers.