Using the recent world average α s (M 2 Z ) = 0.118 ± 0.006, we give the first direct extraction from the Ψ and γ data of the values of the running heavy quark masses within QCD spectral sum rules to two-loops in the MS-scheme:m b (M P T 2 b ) = (4.23 + 0 . 0 3 - 0 . 0 4 ± 0.02) GeV and -m c (M P T 2 c ) = (1.23 + 0 . 0 2 - 0 . 0 4 ± 0.03) GeV, (the errors are respectively due to α s and to the gluon condensate), and the corresponding value of the short-distance perturbative pole masses to two-loops:M P T 2 b = (4.62 ± 0.02) GeV, M P T 2 c = (1.42 ± 0.03) GeV, which we compare with the updated values of the non-relativistic pole masses re-extracteddirectly from the two-loop non-relativistic sum rules: M N R b = (4.69 + 0 . 0 2 - 0 . 0 1 ± 0.02) GeV and M N R c = (1.45 + 0 . 0 4 - 0 . 0 3 ± 0.03) GeV. It is also informative to compare the three-loop values of the short-distance pole masses: M P T 3 b = (4.87 ± 0.05 ± 0.02) GeV and M P T 3 c = (1.64 + 0 . 1 0 - 0 . 0 7 ± 0.03) GeV, with the dressed massM n r b = (4.94 ± 0.10 ± 0.03) GeV, entering into the non-relativistic Balmer formula including higher order α s corrections. The small mass-differencesM N R b - M P T 2 b ≃ M n r b -M P T 3 b ≃ 70 MeV andM N R c - M P T 2 c ≃ (30 ± 30) MeV can measure the size of the non-perturbative effect induced by renormalon type-singularities. Finally, the b and c quark-pole mass difference is found to be: δM b c M b -M c = (3.22 ± 0.03) GeV. An analogous analysis is pursued for the heavy-light mesons, where a simultaneous re-fit of the B and B * masses from relativistic sum rules leads to: M P T 2 b = (4.63 ± 0.08) GeV, while the average of the results from full-QCD and HQET sum rules in the large mass limit gives the meson-quark mass difference to two-loops: δM ∞ b (M B - M N R b ) ∞ ≃ (0.58 ± 0.05) GeV. A comparison of these new and accurate results with the existing ones in the literature is done. As a consequence, the updated values of thepseudoscalar decay constants to two-loops are: f D = (1.35 ± 0.04 ± 0.06) f π andf B = (1.49 ± 0.06 ± 0.05) f π , which lead to f B B B = (1.49 ± 0.14) f π .