Oz, dazed by his first blipvert, pulls up in front of Angel's building. I guess Angel's staying in touch with the old Scooby gang, since they all know where he is and stuff. Way to vanish from Buffy's life, Angel. Inside, Cordy is typing up their very first invoice. I can't help noticing that her typing skills have improved dramatically since the last episode. Oz walks in, and I think it's nice that they have such casual security, since it's not like they might ever be in danger or anything. Cordy is all excited to see Oz, and runs over to give him a hug. Having answered Cordy's questions as to the state of the Bronze ("The same"), and the gang ("They're good"), Oz asks "Are we done?" "Completely," answers Cordy. She introduces Oz to Doyle, and Oz asks where Angel is.
They take the elevator down to Angel's lair. Angel happens to be walking by as he flips through some books, perhaps books which he borrowed from his ex-girlfriend and promised to return but instead took with him when he moved to a different city. But that's just idle speculation on my part. Not that I'm bitter. Anyway, Angel says hi to his visitors and then, noticing there are more than usual, looks again and says, "Oz." Oz says, "Angel." "Nice surprise," Angel says, with no expression whatsoever. "Thanks," is the response. Angel asks, "Staying long?" and Oz answers, "A few days." Doyle questions, "Are they always like this?" Oz turns to Doyle and says, "No, we're usually laconic." Oz presents the ring to Angel and tells him it's from Buffy, who took it from Spike. While Angel, surprisingly, broods over the implications of being nigh-invulnerable, Doyle is more enthusiastic about the little present. "Why don't you put it on, and here, I'll stake ya. C'mon, it'll be fun!" Angel seems uninterested in testing the ring's powers, so the rest of them wander off to a pub.
Angel descends into his trusty sewer, recently vacated by Vincent from Beauty and the Beast, although probably no one remembers that show any more. Anyway, Angel hides the ring under a loose blipvert in the floor. The audience is relieved that there might be a retroactive explanation for all that running around in the daylight Angel's been doing.
The next day, Doyle is hung over. Apparently he spent the evening drunkenly quoting Angela's Ashes, occasionally blurring it with The Flintstones See, he's Irish. So he drinks a lot. And likes Angela's Ashes.
Meanwhile, Angel is doing Tai Chi when the phone rings. It's Rachel, still wearing her strange blue choker. Apparently Lenny (the abusive ex-boyfriend) got out on a technicality. Perhaps it was because he was assaulted by a vigilante, instead of actually being arrested; that's often a pesky loophole. Angel enters his garage to take his big black convertible to the rescue -- is that how he's meant to be getting around? In a car with tinted windows? But then how does he get from the car to inside all the buildings? Joss, please explain! Well, we won't find out this time, because that's when Spike knocks Angel upside the head with a two-by-four. After explaining that he'd like his ring back, Spike says, "You're Angel, vamp detective now? Ooo, I'm so scared. What's next? Vampire cowboy? Vampire fireman? Oh, vampire ballerina." Hee hee hee! Angel says, "I do like to work with my legs," and does his little Buck-Rogers-esque kicking thing. I'm sorry, but that was a lame (so to speak) comeback. More punching and kicking and stuff. As Spike recovers from being thrown into a wall, Cordy and Doyle run in. Because their Spidey-sense was tingling, I guess. Spike looks up and says, "Cordelia? You look smashing! You lose weight?" Cordy is flattered, of course, but then remembers he's a bad guy. Spike leaves with a parting threat. Angel suggests that Cordy and Doyle hide out at Doyle's, since Spike will try to track Cordy down. Their plan is to track Spike down before he finds them.