The self-consistent hybrid approach [H. Wang, M. Thoss, and W. H. Miller, J. Chem. Phys. 115, 2979 (2001), preceding paper] is applied to the spin-boson problem with Debye spectral density as a model for electron-transfer reactions in a solvent exhibiting Debye dielectric relaxation. The population dynamics of the donor and acceptor states in this system is studied for a broad range of parameters, including the adiabatic (slow bath), nonadiabatic (fast bath), as well as the intermediate regime. Based on illustrative examples we discuss the transition from damped coherent dynamics to purely incoherent decay. Using the numerically exact results of the self-consistent hybrid approach as a benchmark, several approximate theories that have been widely used to describe the dynamics in the spin-boson model are tested: the noninteracting blip approximation, the Bloch-Redfield theory, the Smoluchowski-equation treatment of the reaction coordinate (Zusman equations), and the classical path approach (Ehrenfest model). The parameter range where the different methods are applicable are discussed in some detail.