Ed is used as a model for a park statue glorifying the American Palomino. But Ed refuses to go any further when he finds out something about his ancestry.
After Ed saves the life of a small girl in the park, a grateful Grandfather invites Ed and the Posts to his estate in Catalina and Ed doesn't want to go.
On their first anniversary together, Ed expects a present from Wilbur - like a color TV set. When Ed brings up the idea, Wilbur refuses and Ed takes it upon himself to come up with an idea.
Ed thinks he's going bald and gets Wilbur to go out and get a bunch of treatments and remedies. Ed then realizes the real reason why the hair was disappearing.
The Addisons inherit a large estate in the east and prepare to move there. After seeing the new neighbors arrive, Ed starts to miss the Addisons. But the Adissons do not end up moving up there after all.
Addison's beach property is in trouble by a bunch of beatnicks. When Wilbur tries to help with Addison's problem, Wilbur develops his own beatnick problem.
Addison tries to promote Wilbur into helping him finance a new Lie Detector machine. Carol is shocked to find out about Wilbur's old girlfriend and becomes jealous. Ed becomes short-circuited in a fib and tries to leave home.
A temporary party line on the barn phone allows Ed to court Clint Eastwood's horse. However, Ed's ways to arrange things wreak havoc between Clint and Wilbur.