We study quantum mechanical metastability with an eye towards false vacuum decay. We point out some technical and conceptual problems with the familiar bounce treatment of this process. We illustrate with simple quantum mechanical examples that the bounce formalism fails to account for the correct boundary conditions. It is also shown, that the bounce approach overestimates the time scales for tunneling of localized packets in typical (slightly) biased double well potentials. We present a thorough WKB analysis with particular attention to semiclassical trajectories corresponding to complex saddle points. We point out that the boundary conditions determine the proper choice of saddle points and the bounce approach fails to account for semiclassical trajectories in many physically relevant cases. We recognize that these saddle points account for the matching conditions of the WKB wave functions beyond the barriers and restore unitarity and reality of eigenvalues for self-adjoint boundary conditions. We provide a novel approach to the semiclassical analysis of out of equilibrium decay in real time in quantum statistical mechanics.
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