Spike makes his first appearance on the show after losing the Ring of Amorra he chases after it, the episode starts off with some fantastic voice over from Spike after Angel saves some random girl (I notice they're always beautiful women, what about the ugly ones?)
After a fight scene between Spike and Angel, Angel is captured and is being tortured until Spike gets the ring back, ultimately Spike loses the ring, his prisoner and his torturer and decides to leave. Angel gets the ring off of the other vampire and wears it and see's daylight for the first time in a long time. He watches the sun set and decides that the ring is just a fabrication of what he is fighting for and destroys it.
I think it's one of the best episodes in the series mainly because of the fact that Spike and Angel collide.