The Southwest Watershed Research Center (SWRC) of the United States Department of Agriculture-Agricultural Research Service has been conducting arid and semiarid (dryland) watershed research since 1953. This included establishment and continuous operation of the Walnut Gulch Experimental Watershed (WGEW) in southeast Arizona. The 149 km2 ephemeral watershed is one of the most densely instrumented dryland research catchments in the world with a drainage area greater than 10 km2. This instrumentation captures many aspects of the hydrological cycle including how precipitation is partitioned into soil moisture, runoff and evapotranspiration and its subsequent effects on sediment transport, vegetation productivity, carbon sequestration, and groundwater recharge. The long-term, high-resolution record of observations on the WGEW enables understanding of the mean and variability of the hydrological processes, not well characterized with shorter term records, that fail to capture the large variability common to dryland regions. This presentation will highlight trends in temperature, precipitation, and runoff over the WGEW observation period. Additional research findings made by the SWRC and collaborators on erosion; plant productivity and carbon sequestration; the facilitation of soil water redistribution by plant roots; and groundwater recharge will also be presented.