We report here two forms of activity-dependent plasticity of the transfer of neuronal information between pairs of monosynaptically coupled pyramidal cells. In a first part, we discuss the induction of long-term bidirectional changes in excitatory synaptic transmission following defined regimes of neuronal activity. In a second part, we provide evidence that the conditions in which the presynaptic action potential is elicited determine whether it will successfully propagate along the presynaptic axon.