The revolutionary observations of GW170817 offered unprecedented insights into the many fundamental questions in physics. While many eagerly wait for the next GW170817, much can be learned through theoretical developments and confronting our other observations of merging neutron star binaries. In this talk, I will discuss the recent advances in the theoretical modelling of such mergers and their GW and EM signals and the clues and tensions hinted by other observations of merging neutron star binaries. I will also discuss future prospects and highlight open source tools that enable the community to confront observations and extract the workings of astrophysical phenomena.