I briefly summarize current experimental and theoretical results on the two
important processes of the low-energy hadron physics involving neutral
pions: the rare decay pi°-›e+e-  and the pi° Dalitz decay. The notorious 3.3sigma
discrepancy between the Standard Model rare-decay prediction and the
experimental value provided by KTeV collaboration is discussed in the view
of the complete set of next-to-leading-order QED radiative corrections. The
two-hadron-saturation (THS) scenario for the PVV correlator is also
presented. Related to the pi° Dalitz decay, a new conservative value for the
ratio R=Gamma(pi°-›e+e-gamma(gamma))/Gamma(pi°-›gamma gamma)=11.978(6)x10^{-3}, which is by two orders of
magnitude more precise than the current PDG average, is provided.
Furthermore, I present the radiative corrections to the Dalitz decays
eta(')›l+l-gamma beyond the soft-photon approximation, which inevitably depend on
the eta(')-›gamma*gamma(*) transition form factors.