The unsaturated complexes [W2Cp2(mu-PR2)(mu-PR'2)(CO)2] (Cp = eta5-C5H5; R = R' = Ph, Et; R = Et, R' = Ph) react with HBF4.OEt2 at 243 K in dichloromethane solution to give the corresponding complexes [W2Cp2(H)(mu-PR2)(mu-PR'2)(CO)2]BF4, which contain a terminal hydride ligand. The latter rearrange at room temperature to give [W2Cp2(mu-H)(mu-PR2)(mu-PR'2)(CO)2]BF4, which display a bridging hydride and carbonyl ligands arranged parallel to each other (W-W = 2.7589(8) A when R = R' = Ph). This explains why the removal of a proton from the latter gives first the unstable isomer cis-[W2Cp2(mu-PPh2)2(CO)2]. The molybdenum complex [Mo2Cp2(mu-PPh2)2(CO)2] behaves similarly, and thus the thermally unstable new complexes [Mo2Cp2(H)(mu-PPh2)2(CO)2]BF4 and cis-[Mo2Cp2(mu-PPh2)2(CO)2] could be characterized. In contrast, related dimolybdenum complexes having electron-rich phosphide ligands behave differently. Thus, the complexes [Mo2Cp2(mu-PR2)2(CO)2] (R = Cy, Et) react with HBF4.OEt2 to give first the agostic type phosphine-bridged complexes [Mo2Cp2(mu-PR2)(mu-kappa2-HPR2)(CO)2]BF4 (Mo-Mo = 2.748(4) A for R = Cy). These complexes experience intramolecular exchange of the agostic H atom between the two inequivalent P positions and at room-temperature reach a proton-catalyzed equilibrium with their hydride-bridged tautomers [ratio agostic/hydride = 10 (R = Cy), 30 (R = Et)]. The mixed-phosphide complex [Mo2Cp2(mu-PCy2)(mu-PPh2)(CO)2] behaves similarly, except that protonation now occurs specifically at the dicyclohexylphosphide ligand [ratio agostic/hydride = 0.5]. The reaction of the agostic complex [Mo2Cp2(mu-PCy2)(mu-kappa2-HPCy2)(CO)2]BF4 with CN(t)Bu gave mono- or disubstituted hydride derivatives [Mo2Cp2(mu-H)(mu-PCy2)2(CO)2-x(CNtBu)x]BF4 (Mo-Mo = 2.7901(7) A for x = 1). The photochemical removal of a CO ligand from the agostic complex also gives a hydride derivative, the triply bonded complex [Mo2Cp2(H)(mu-PCy2)2(CO)]BF4 (Mo-Mo = 2.537(2) A). Protonation of [Mo2Cp2(mu-PCy2)2(mu-CO)] gives the hydroxycarbyne derivative [Mo2Cp2(mu-COH)(mu-PCy2)2]BF4, which does not transform into its hydride isomer.