Lots of rejection in this Peggy and Pete centered episode. We see how they each has evolved as characters over the past three years.
Peggy is fast becoming the new Don of the 60's as she is tasting the life that will make her a great ad women. Don did the same in the 50's and early sixties, and he rode to the top capturing the "man in the grey flannel suit" angst of that time. When the series started, it was Don mixing with artsy beatnik types. Now he is alone in a shabby apartment not knowing what he is anymore.
Ken Cosgrove looks to be rejected and more bitter now, and I think he will be coming to SCDP. He has bounced around agencies since last year, and has lost some of that go with the flow easiness he was known for. However, his talk with Pete plants the idea that getting a piece of companies advertising is not enough, to make it you need it all.
Pete has learned Trudy is finally pregnant and he is surprising overjoyed. Don told his researcher you can't judge people by how they behaved before, and this is true for both Pete and Peggy. Pete was ambivilent about being a father before, but seems to have grown up. However, the sneaky side of him resurfaces as he makes his father in law give him the whole Vick's account. His FIL strung him along with the promise of that business, and Pete used the pregnancy to make him keep his word. They don't like each other and we could tell he was not happy about it, but his daughter would let him have it if he reneged.
Allison was the ultimate rejectee as she came to realize Don is not boyfriend material, to say the least. He moved on like he always does, but that is hard to do when the girl you srewed over is in the next room.
At the end of the episode, Don, alone as usual, sees an old couple in the hallway, and she tells her husband they will not discuss it outdoors. They keep things private, like Don. Don saw himself in them and he did not like what he saw. I believe the climax of the season will be that SCDP placed all their bets on Don being the wonderboy. However, as Peggy showed, he is outdated and in a funk. He is 40 years old in 1965, where kids don't listen to anyone over 30. His insights are outdated for the emerging young, and his life is in pieces. If he is no longer the wonderboy ad man, he may be the rejected.