This episode is very nearly perfect. I was surprisingly touched by Ellen's death scene, and Tigh's hard choice leading to it. The profound effect this has on Tigh is illustrated towards the end, when almost every one on the flight deck is celebrating, but Tigh and Starbuck are less jovial. They have been dramatically changed by their experience on New Caprica; Tigh by the death of his wife and Starbuck by the "torture" imposed on her by Leoben.
A true fist-pumping moment comes when Galactica is getting pounded by the basestars, and the camera pans back to reveal Pegasus barreling toward the fray. Also, Pegasus rams the basestar and unwittingly takes out two of them.
For all these moments, the best scene is the last one. Adama shaves off his moustache and walks down a corridor on Galactica while the "Good Lighter" theme plays. I'm partial to any scene using this theme, as it's amazing, but this scene truly represents a new beginning.
This is one of the best episodes of television I've ever seen. Here's to new beginnings.