The first high quality optical spectrum of the Crab Pulsar is presente
d. The pulsar shows a flat, featureless, continuum which, in the range
4900 - 7000 Angstrom, is well fitted by a power law with alpha = -0.1
+/- 0.01. While in agreement with previous results based on much scan
ter data, the power law spectral index arising from our observations i
s much more precise than anything available so far. Moreover, using th
e same data integrated over the V band, as well as new images of the f
ield, we try to assess the secular decrease of the pulsar's luminosity
. No firm conclusion can be drawn for the data available so far. We ob
tain a decrease of 0.008 mag/yr +/- 0.004 to be compared with the theo
retical rate predicted by the Pacini's law (similar to 0.005 mag/yr).
In parallel, the velocity structures of the nebula emission lines have
been studied, finding no evidence for an high velocity halo.