Systematic radiotracer diffusion studies on metals present in severely deformed, ultra-fine grained (UFG) states have revealed the existence of ultra-fast transport paths, which include the so-called “non-equilibrium” grain boundaries and other defects including excess free volume. Under certain experimental conditions percolating porosity is produced even in a ductile metal like pure copper. This result indicates the importance of the cavitation phenomena in severe plastic deformation under those conditions. It is well known that micro-cracking can take place in metals rather early, if the local maximum shear stress equals or exceeds the shear yield stress of the material. However, the growth and propagation of these cracks will be postponed till very late in the deformation process because of the intrinsic ductility of metals, the effect of the superimposed hydrostatic component of the stress system and/ or concurrent dynamic recovery/ recrystallization, when the latter two are present (which is likely to be the case, if the severe plastic deformation operation is successful). That is, the stage in which crack growth and propagation is present represents a material state in which the scope for further deformation is exhausted and fracture processes have taken over. Using these and similar ideas, the load required for equal channel angular pressing, the change in the slope of the Hall-Petch plot with decreasing grain size and the theoretical limit for the smallest grain size attainable in a metal subjected to a severe plastic deformation (SPD) process are predicted and checked against experimental results.