Parametric downconversion in chi((2)) media has, so far, proved to be
the most effective way of generating squeezed light. The development o
f frequency-tunable sources of such nonclassical light opens up novel
possibilities in atomic physics and spectroscopy. A brief overview of
the results in this area of quantum optics is given, and a new experim
ent aimed on subshot-noise measurement of atomic orientation is descri
bed. We report a preliminary 5 dB quantum noise reduction observed dir
ectly around the 917 nm Cs line. We introduce a figure of merit for th
e chi((2)) medium utilized for squeezed light generation in an optical
parametric oscillator and evaluate some available nonlinear media fro
m this perspective.