The episode begins with Cordelia, Wesley, and Gunn returning from killing a Murite demon. The gang talk about their obsession with demons, Angel's current vacation in Sri Lanka, and the fact that Fred has barely emerged from her room in the hotel for three months.
Meanwhile, Angel's relaxing spiritual journey has turned into a battle with demon monks. He makes quick work of them all and confesses to a non-demon monk that he should have taken Gunn's advice and gone to Vegas.
Later, Cordelia goes to set out the rat traps and opens the door to find that Angel has returned. After hugs go all around, Angel presents them each with a gift and then heads upstairs to see Fred. She has been scribbling on the walls and nearly has the entire room covered. She is very excited to see him yet is still having trouble controlling her babble. He tries to convince her to come out of her room and is assuring her that the hotel is safe when Cordelia suddenly screams.
Cordelia has a vision of vampires crashing a college party, killing, and taking hostages. As the boys leave, she cries and lies down, apparently in pain from the vision.
When the boys arrive at the campus, they find corpses and the trail of the vampires. Angel jumps on the vampire gang's getaway car and frees the hostages. Angel, Wesley, and Gunn fight and dust all but one of the vampires. Before she turns to dust, one of the vampires recognizes Angel as Angelus and he ends up with her locket in his hand.
Cordelia is at her apartment and apparently still in a lot of pain from the vision. Phantom Dennis helps her draw a bath. She takes some medication and makes the comment that the visions are getting worse every time.
FLASHBACK to Marseilles, 1767 Angelus and Darla are with two vampires who seem to be madly in love with each other. All four of them are on the run from Holtz. The new male vampire, James, breaks a window and takes out a locket for the female, Elizabeth. It is the same locket that Angel now possesses. The authorities show up with Holtz and the female vampires flee as the men appear to be caught.
Back to the hotel, Angel stops the tale and holds the locket. Gunn and Wesley decide to check their sources to see if James is aware that Angel killed his girlfriend.
James has heard about what Angel did to his girlfriend from the vampire that got away, whom he kills.
While Wesley and Gunn are out, Cordelia tries to talk to Angel about Buffy's death. He remains silent on the matter, but she tells him that he shouldn't blame himself or feel guilty for her death. She then demands that he finish his story about Holtz.
FLASHBACK Holtz wants to know where Darla is. Angelus tells him where to find her and Elizabeth. Enraged, James attacks Angel. In the midst of the confusion, Angel gets hit with arrows but manages to steal a horse. He and James ride away. However, James is disgusted at how quickly Angelus betrayed the woman he was supposed to love and shoves him from the horse, leaving him to fend for himself while he goes to find the women.
Back in the present, James goes to some kind of demon doctor and insists that he give him "the cure." The doctor says that there is a price and James says that he has already paid it. The scene then shifts to James on a table with the doctor cutting into his chest with a scalpel.
At The Caritas, The Host sings while Wesley and Gunn wait to meet Merle. He arrives and confirms that James is in town, knows that Angel killed his girl and plots revenge. Merle also tells Wesley and Gunn that James went to see a demon doctor that specializes in collecting things.
At the Hotel, Angel and Cordelia argue over whether or not she should stay or go home. James arrives before she can leave and they fight. Angel stakes James, but nothing happens. He throws James into some sunlight and nothing happens. Cordelia and Angel then retreat to the sewers.
Wesley and Gunn call Cordelia on her cell phone and tell her that the demon doctor took James' heart and made him invincible, but that it only lasts for six something. She could not hear the measurement of time before her phone lost the signal.
James finds Angel and Cordelia in the sewer and chases them onto the subway train. While fighting them there, James finds out about Angel's love dying three months ago. He doesn't believe that Angel really loved her with all his heart because he was able to go on without her. Angel defeats James in the fight, and James accuses Angel of never really living before he turns to dust as his time runs out.
Back at the hotel, Angel and Cordelia talk again. Angel confesses that he's okay with Buffy's death and that is what is not okay. He feels like he is betraying her by continuing to live and moving on. Cordelia assures him that he is not and that he's honoring her by continuing to fight and trying to help people. The whole group then leaves to fight some Nester demons.
The scene then shifts to Puerto Cabazos, Nicaragua. Darla is at a bar. A man approaches her, hands her a piece of paper, and comments that the shaman isn't easy to find. The man implies he wants something physical from her and she kills him. When she stands up and moves away from the bar, it is readily apparent that she is very, very, pregnant.