The radius and diameter are fundamental graph parameters. They are defined as the minimum and maximum of the eccentricities in a graph, respectively, where the eccentricity of a vertex is the largest distance from the vertex to another node. In directed graphs, there are several versions of these problems. For instance, one may choose to define the eccentricity of a node in terms of the largest distance into the node, out of the node, the sum of the two directions (i.e. roundtrip) and so on. All versions of diameter and radius can be solved via solving all-pairs shortest paths (APSP), followed by a fast postprocessing step. Solving APSP, however, on $n$-node graphs requires $Ω(n^2)$ time even in sparse graphs, as one needs to output $n^2$ distances. Motivated by known and new negative results on the impossibility of computing these measures exactly in general graphs in truly subquadratic time, under plausible assumptions, we search for \emph{approximation} and \emph{fixed parameter subquadratic} algorithms, and for reasons why they do not exist. Our results include: - Truly subquadratic approximation algorithms for most of the versions of Diameter and Radius with \emph{optimal} approximation guarantees (given truly subquadratic time), under plausible assumptions. In particular, there is a $2$-approximation algorithm for directed Radius with one-way distances that runs in $\tilde{O}(m\sqrt{n})$ time, while a $(2-δ)$-approximation algorithm in $O(n^{2-ε})$ time is unlikely. - On graphs with treewidth $k$, we can solve the problems in $2^{O(k\log{k})}n^{1+o(1)}$ time. We show that these algorithms are near optimal since even a $(3/2-δ)$-approximation algorithm that runs in time $2^{o(k)}n^{2-ε}$ would refute the plausible assumptions.