This episode is another installment in the "bad stuff happens to O'Brien" series, but unlike its predecessors nothing bad actually happens to him - instead, he's placed in a sticky ethical situation. He's placed in a situation that forces him to gain the trust of a morally-suspect-yet-deeply-honorable man. As is typical in these kinds of stories, O'Brien begins to show signs of "going native" and arouses worries from his Federation handlers; in this case, he makes "the right choice" and betrays his new friend for the greater good. (An interesting contrast is TNG's "Preemptive Strike".)
Colm Meaney could do these intense stories while asleep and provides another great performance here. The guy playing Bilby also gives a fine turn. Aside from that, I was left a little underwhelmed at the end. The story seems a little disconnected from the Star Trek universe and that throws me off a little. It's not as emotionally shattering as "Hard Time", nor as shocking as "Whispers", but still offers a very enjoyable 45 minutes of viewing.