The note says: "Men make plans. God laughs. I am laughing at you now, as I always have. You think you honour me with your pursuit. You do not. You are a mouse chasing a lion, a mere planet in orbit of a raging sun. -M" It looks like letters cut out from magazines, but in this shot, it actually looks more like a printout not little bits of paper taped down.
In the next shot, though, Gregson reads the note and this time it's definitely clippings of paper attached to a bigger sheet. Holmes says the lock on the back door was picked. Gregson wants to send Holmes and Watson to a safe house, but Holmes figures M wants the game, not to kill him. He claims to be safe as houses. And Watson says she goes where Holmes goes. So she's staying. Gregson's attempt to protect their lives is foiled.
Later, Watson is about to go to bed. Holmes is on the Internet looking at a different abandoned home his father owns. I will briefly mention that the picture on the web page has a bunch of white powder on it. No reason! Just thought I'd make sure that important plot point got mentioned. Don't worry about it! Holmes is just looking for a possible new home. He's not worried about M's note, but he's still not delighted that his house isn't madman-proof.
Than, as soon as Watson is gone, Holmes grabs a hollow book from a high shelf. It's got a hidden camera in it and he quickly gets to the footage of M (Vinnie Jones) leaving the note.
M is out on the street and he does not want to buy some knockoff Gucci shades from this kid who's bothering him. He's watching a woman with a dog enter an apartment. He shoves the kid and leaves.
Watson is in bed composing her final assessment for Holmes's father, who is listed on the computer screen as "M. Holmes." She's having trouble with the first sentence.
Later! The doorbell buzzes. That young man from earlier is introduced by a police officer, who says that he was told to stop anyone from entering. The young man says he was looking for Sherlock. But he's not a "friend" of Holmes, because he doesn't have friends. So he's an associate. Watson shoos the cop away and the kid asks if she's a hooker. Nope. Anyway, Holmes once spotted him and a friend running a scam and decided not to turn them in. So they do some spying for him, which makes them the local Baker Street Irregulars. And recently, Holmes hired him to find this guy in a picture. The picture, of course, is a shot of Vinnie Jones creeping around the Brownstone. The young man elaborates: "He's a Brit, just like Holmes said." Watson is sort of listening, but she's distracted by looking for the hidden camera. The kid would like to get paid.