We investigate the interplay of collective and chaotic motion in a classica
l self-bound N-body system with two-body interactions. This system displays
a hierarchy of three well-separated time scales that govern the onset of c
haos, damping of collective motion and equilibration. Comparison with a mea
n-field problem shows that damping is mainly due to dephasing. The Lyapunov
exponent, damping, and equilibration races depend mildly on the system siz
e N.