The day starts over at different points four times.
Dawson and Mitch show up to the dock to find Jen, Andie, Will, Jack, Doug, and Buzz getting ready to christen Pacey's boat. Pacey and Joey are in the boathouse making out. They agree that Pacey will tell Dawson today. Pacey drops Buzz off on Doug so he can complete the task. Grams is going away, leaving Jen alone with the house to herself. She warns Jen to watch out for whatever Henry may do. Jen sees Pacey in front of Dawson's house, he tells her he's going to tell Dawson about him and Joey, Mitch comes outside and tells them Dawson went to the library. Pacey runs into Andie at the library, Andie is going on a date with Will. At Doug's house, Buzz is being a terror- he took the tape to his answering machine. Pacey comes back and Doug tells him that he's wrong for sneaking around with Joey behind Dawson's back. At night, Pacey is walking up to Dawson's house, Joey catches him and tells him that he can't tell him and that she has to, Dawson comes outside and wants to know what they're arguing about. Pacey tells him that him and Joey are together.
Same beginning scene, Pacey comes out from the front of the house, Joey comes out from the back. Dawson gives Pacey champagne to break over the boat. Joey tells Jen that she does want to be with Pacey and that Pacey is going to tell Dawson today. Jen is giving Joey a ride to the library. Andie (after talking to Pacey) meets up with Joey at the library and tells her that she isn't over Pacey. Joey calls Pacey and leaves a message saying not to tell Dawson until they discuss it. Joey goes to Dawson in his room to try to tell him. Dawson describes The Last Picture Show to her, a movie about three friends, two guys and a girl who dates both of them and they wind up all hating each other. Joey leaves out the window, sees Pacey walking up to the door and stops him. They have their conversation; Dawson is listening and comes out. They find out that he already knew.
They finish the scene where Pacey thanks everyone and christens his boat. Will runs into Dawson on the library, asks him what he did on his first date with Joey, Dawson tells him to take his boat out on the creek with Andie. Henry and Jen are on Jen's porch and Dawson comes up. Jen thinks Dawson already knows, tries to console him, but he doesn't know what she's talking about. Dawson figures out she's talking about Joey and Pacey. He walks away. The scene with Joey and Dawson in his bedroom is repeated until Dawson comes out of his house. Dawson flips out at Pacey and Joey; he questions their motives and tells Pacey that he won't have any friends in the end. Andie and Will walk up from the creek; Andie asks what's going on; Dawson tells her.
Starts from the scene between Dawson and Jen, he leaves. Henry comes out and winds up telling her that he doesn't care what kind of "mini-drama (her) and her friends have conjured up this week" and she gets mad and tells him to go home. Will and Andie are out on the creek, Will tells her about a Greek myth. Will and Andie walk up from the creek (again) and Andie asks Pacey how he could be so stupid and that Joey will never love him like she loves Dawson and storms away. Joey runs after Dawson and they have an argument, Dawson tells her he has to choose between him and Pacey and she doesn't choose either. On the boardwalk Joey finds Pacey and they make small talk about his boat and then she tells him that it has to be over. He tells her to go, she does and when she looks back, he's gone.