High-speed optical networks will require all-optical signalprocessing to avoid bottleneck due to optical-to-electrical (O/E)and electrical-to-optical (E/O) conversion. Enabling of opticalprocessing tasks such as optical buffering and data synchronizationwill require large tunable delay. Recently, slow-light physics gotwide attention to generate tunable delay. However, for a slow-lightsystem large delay comes at the expense of increased distortion.This dissertation presents a study of the slow-light systems andquantifies the limitations imposed on delay due to distortion andsystem resource constraints. Optimal designs for two- and three-lineBrillouin slow-light systems showed fractional pulse delay of up to1.7 compared to a single-line gain system. Optimal designs forbroadband Brillouin gain system showed upto 100\% delay improvementcompared to the Gaussian pump. Wavelength conversion and dispersionbased tunable delay systems showed bit delay of 15 bits. An opticalbuffer based on photorefractive medium for real-time data storagewas demonstrated by storing and retrieving a 7-bit data sequence.