In Part I, Deligne-Riemann-Roch isometry is generalized for punctured Riemann surfaces equipped with quasi-hyperbolic metrics. This is achieved by proving the Mean Value Lemmas, which explicitly explain how metrized Deligne pairings for ω-admissible metrized line bundles depend on ω. In Part II, we first introduce several line bundles over Knudsen-Deligne-Mumford compactification of the moduli space (or rather the algebraic stack) of stable N-pointed algebraic curves of genus g, which are rather natural and include Weil-Petersson, Takhtajan-Zograf and logarithmic Mumford line bundles. Then we use Deligne-Riemann-Roch isomorphism and its metrized version (proved in Part I) to establish some fundamental relations among these line bundles. Finally, we compute first Chern forms of the metrized Weil-Petersson, Takhtajan-Zograf and logarithmic Mumford line bundles by using results of Wolpert and Takhtajan-Zograf, and show that the so-called Takhtajan-Zograf metric on the moduli space is algebraic.
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