This episode is similar to Isnt It Romantic in that its just old clips from previous shows for the most part.
The episode starts off with a bunch of new Bayside students bringing a time capsule into Mr. Beldings office. Each new student is kind of a ripoff lookwise and/or personalitywise of the original gang. It turns out the new students are the Class of 2003 and a videotape is found in the capsule. Mr. Belding pops in the tape and its the gang and theyve got some messages for the Class of 2003. Basically they each go one by one and descibe what Bayside has meant to them. I did notice that most of the clips they flashbacked to where earlier episodes from Seasons 1 and 2. There werent really a lot of later season clips. At the end of the episode each student gives their own, personal message to the Class of 2003 about Bayside.