We describe experimental ultra-high-speed HBT circuits for lightwave communications applications. High speed circuits such as multiplexer/demultiplexers, variable gain amplifiers, (VGAs), and transimpedance amplifiers operating at high bit rates (> 30 Gb/s) are required for the realization of high-performance lightwave systems using TDM or WDM. We have demonstrated 40 Gb/s 4:1 multiplexers, > 30 Gb/s 1:4 demultiplexers, DC-26 GHz VGAs, DC-25 GHz transimpedance amplifiers, 30 Gb/s data and clock regenerators, 40 Gb/s differentiate-and-rectify timing recovery circuits, and 40 Gb/s delay-and-multiply timing recovery circuits, for use in such systems using a manufacturable hybrid digital/microwave HBT process.