The other guys covered it well enough. The final episode wrapped things up fairly well... it didn't tie up every loose end but for a series finale it did alright. Considering they ended the show before it had a chance to tell it's multi-season story they did a fairly good job tying it all up.
In short, a bunch of events come to a head which closes up some holes (but not all). The last couple of minutes have a monologue describing Graystone's feelings on the recent events and developments. All the while showing a montage of how Colonial life has changed as a result of the recent events and how you can easily see how it will all flow into a civil war.
There's another series in the works, Blood and Chrome. It takes place in the early days of the first/previous Cylon way (decades before Battlestar Galactica). I imagine it will fill in some gaps and bridge the two series.
That's assuming the show hasn't been dropped already.
Edited on 05/09/2011 12:35pm