Carl Robinson is an Immortal who MacLeod first met in 1929 when he rescued him from a KKK lynch mob. Back then, Carl was full of plans — to be a Major League Ballplayer, to be President. But today Carl has given up hope. He and MacLeod meet up again when Carl steals Charlie's car. Mac tries to rekindle Carl's belief in himself, but Carl doesn't want to listen. When a white cop named Carter tries to kill him, Carl attributes the incident to racism, until MacLeod explains about the Watchers who are hunting them. After Carter's partner (also white) helps Carl and MacLeod bring Carter down, Carl decides to give the world another chance.

Jimmy Sang, a former student of Charlie's, is an up-and-coming martial arts movie star. His latest movie is filming some scenes in the dojo. When a stuntman is ""accidentally"" killed, MacLeod is the first to realize that Jimmy's life is in danger. It turns out that the movie is based on Jimmy's youthful experiences as an enforcer for a powerful gang, and now his former boss wants to see him dead.

Amanda, the beautiful Immortal cat-burglar returns to town, telling MacLeod she's retired from her life of crime. He doesn't believe her — especially when two guys start shooting at them. Mac thinks the guys might be Watchers, but in fact they are FBI Agents. Amanda is in possession of some plates for counterfeit money, stolen in Germany before the War. She's looking for an engraver to change the dates, figuring since she's sworn to give up stealing money, she'll have to print some up. Palance, one of the FBI Agents, sets MacLeod and Amanda up to take the fall for his partner's murder, and demands that they turn the plates over. Mac and Amanda are forced to ""die"" on videotape to catch Palance.

The Zone, a burned-out urban wasteland, is taken over by Canaan, a charismatic leader who urges his followers to take the material possessions that have been denied to them. Dawson comes to MacLeod for help but after learning that Canaan is not an Immortal, he's ready to drop it. However, MacLeod has seen the misery in the Zone, and is determined to break Canaan's hold.

When MacLeod and Richie are witness to a terrorist attack on an Ambassador, Richie dives in like a Superhero, cocky with Immortality. In the resulting confusion, one of the terrorists is killed, and another, Annie Devlin, an Immortal, is captured. She swears revenge on Richie, and when she escapes from custody, MacLeod takes on the task of educating Richie so that he will have a chance in combat against her. Meanwhile, Flashbacks reveal an earlier friendship between MacLeod and Annie. Mac renews the friendship, and the two Immortals who have both recently lost their lovers find solace in one another. In the end, Richie defeats Annie but can't bring himself to kill her, and MacLeod convinces her to pursue the blood debt no further.