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I hear a lot about transactional practices - I understand that those would mainly include M&A, possibly tax (including tax for M&A I guess), contracts.... Can people input and discuss the full spectrum of what is considered a transactional practice?

Basically anything that isn't litigation. Deals, structuring, finance, mergers & acquisitions, advising corporations, etc. Anything about which a business venture needs advice. "Say, how do we issue this security without having the 10-ton hammer of the SEC rain down upon us?" etc. Basically if it's not litigation, it's considered transactional. There are plenty more ways to subdivide it, but that's the gist of it. Chambers & Associate has some fabulous practice area summaries online you can read for an overview of some other large practice areas.