This report summarizes the MITLL-AFRL MT and ASR systems and the experiments run using them during the 2014 IWSLT evaluation campaign. Our MT system is much improved over last year, owing to integration of techniques such as PRO and DREM optimization, factored language models, neural network joint model rescoring, multiple phrase tables, and development set creation. We focused our efforts this year on the tasks of translating from Arabic, Russian, Chinese, and Farsi into English, as well as translating from English to French. ASR performance also improved, partly due to increased efforts with deep neural networks for hybrid and tandem systems. Work focused on both the English and Italian ASR tasks.