The two classes of maximally flat finite-impulse response (FIR) and all-pass infinite-impulse response (IIR) fractional-sample delay systems are thoroughly studied. New expressions for the transfer functions are derived and mathematical properties revealed. Our contributions to the FIR case include a closed-form formula for the Farrow structure, a three-term recurrence relation based on the interpolation algorithm of Neville, a concise operator-based formula using the forward shift operator, and a continued fraction representation. Three types of structures are developed based on these formulas. Our formula for the Farrow structure enhances the existing contributions by Valimaki, and by Vesma and Saramaki on the subsystems of the structure. For the IIR case, it is rigorously proved, using the theory of Pade approximants, that the continued fraction formulation of Tassart and Depalle yields all-pass fractional delay systems. It is also proved that the maximally flat all-pass fractional-delay systems are closely related to the Lagrange interpolation. It is shown that these IIR systems can be characterized using Thiele's rational,interpolation algorithm. A new formula for the transfer function is derived based on the Thiele continued fractions. Finally, a new class of maximally flat FIR fractional-sample delay systems that exhibit an almost all-pass magnitude response is proposed. The systems possess a maximally flat group-delay response at the end frequencies 0 and pi, and are characterized by a closed-form formula. Their main advantage over the classical FIR Lagrange interpolators is the improved magnitude response characteristics.