We present the history and analysis of different wakefield effects throughout the operational life of the PEP-II SLAC B-factory. Although the impedance of the high and low energy rings is small, the intense high current beams generated a lot of power. The effects from these wakefields are: heating and damage of vacuum beam chamber elements like RF seals, vacuum valves , shielded bellows, BPM buttons and ceramic tiles; vacuum spikes, vacuum instabilities and high detector background; beam longitudinal and transverse instabilities. We also discuss the methods used to eliminate these effects. Results of this analysis and the PEP-II experience may be very useful in the design of new storage rings and light sources. Show Partial Abstract