This investigation presents an analytical and computer-aided study on the dynamics of meshing gears with backlash. Based on the rotary gear impact model of Yang and Sun, a modified model with additional considerations of bending deflection, axial compression, and Coulomb friction is developed. Despite the complexity in gear geometry, formulas for modeling these phenomena are all analytically derived. A computer simulation package is developed for this model. Consequently gear impact dynamics and the relative importance among the included considerations are studied. Results show that the energy loss due to the Hertzian damping is usually larger than that from the Coulomb friction, and the axial compressive energy is negligible in comparison to tooth bending energy. It is believed that the model and the finding in this study contribute toward understanding of impact behaviors of high-speed geared systems with frequent stop-and-start or intermittent motions.