A high point of the show's entire run, this eoisode is elaborate, comical, very skilfully edited and with great photography (notably of the San Francisco Ballet, who performed in stage scenes). The storyline of a ballet company on the point of folding, a bank account heist and the role of McCloud's Stetson in all this is kept in the dark for much of the episode; we're as bewilered as McCloud and the N.Y. police.
By a twist of fate, I've seen it twice, first as a kid, subtitled in Swedish - McCloud was part of the flow of american crime tv exported ever since the sixties. This episode, in particular, caught the attention of me and my brother, and for years afterward we'd quote the lines tossed here netween McCloud and Chief Clifford ("Three men have died because of that silly Stetson of yours", "Is this supposed to be a code? A ball rolled out of town, la-la"). Ten years later, the city was one of the first in Sweden to get cable tv to ordinary residential areas. One night I was dozingly watching west German tv when McCloud came on and - hey, it's *that* episode!! By another lucky twist, my two years-elder was also at home. So we got to see the thing again, this time dubbed into German, while in cult film style we'd quote some of the lines from ten years before. A truly bizarre tv viewing experience.
It turned out that this particular one had been singled out as a film on its own and run outside the series. Seeing it again I recognized that it's no ordinary cop thriller, it evolves in a series of mistakes and deliberate ironies to an elusive crime behind the story. The point that McCloud is still bit of a stranger in the Big Apple helps to drive sthe story forward, and it does have kind of a cult reputation.