Things I loved unreservedly:

MOZ ♥ I think my favorite scene was the fake confession, where Neal is all how did that sound? and Moz is all ... sad and tragic? I love how completely open they are with each other. Neal is, we know, capable of locking down his emotions entirely, but he's not doing the stoic thing with Moz. He's hurt and upset by his father's betrayal and abandonment and he wants Moz to be there while he's recording the confession and he comes right out and says so. Oh, BOYS. *snuggles them*

And I liked that Neal is sitting painting, and talking about being in a zone, when Peter comes - I guess Mozzie's anklet-cracker is too heavy for Bugsy to carry around, but I like that Neal at least thought of the fact that he'd look suspicious not moving for four hours.

Neal's little speech about how wearing the anklet feels normal, now. I've read mixed reactions to this, but my interpretation is that Neal sounds ... freaked out and disturbed and uncomfortable, there. Like he's realizing Peter isn't the only one who's lost perspective, and it scares him that he's started to think of having a tracker on his ankle as normal and okay. It's a nice little parallel - Peter is upset and worried that he's forgotten that Neal is a criminal, and Neal is upset and worried that he's forgotten that the anklet (which can be read as metaphor for his relationship with Peter) is a cage.

(That's how I read Neal's expression and tone of voice - I don't think he actually means he misses the anklet when it's not there. But then, "Neal secretly likes/is reassured by the anklet/knowing Peter always knows where he is" has always been an instant backbutton for me in fic, so I hope that's not how they meant it to come across in the episode.)

Other things I liked:

The differences between Peter and Neal are about an actual disagreement over what is right, not "Neal knows what is right and does the opposite anyway and then mopes around feeling horribly guilty about it" like we got for most of S3 and S4. Neal doesn't believe he did anything wrong, here.

Although - am I the only one who really really misses the dynamic of S1 and S2, where Peter knew exactly what Neal was up to, and why, and Neal knew that he knew what and why, and the two of them could talk about it? And argue about what Neal should do, and why? Am I the only one who misses those days? In a lot of ways I feel like they were closer, then.

Neal's reaction to Peter's speech at the end was pitch-perfect, I thought - that "goodbye, Peter" felt very final. He's hurt, and he's not going to get over this soon (if ever - I'm not sure Neal will ever really trust Peter again, after this).

Also, I like the way the episode starts out, early on, showing Neal feeling abandoned and betrayed by his father (with that fake confession recording, and the exchange with Moz) and then ends with Peter ending their friendship and telling him he's no longer part of the family. I don't know if the writers meant to bracket it that way, with Neal-being-abandoned-by-father-figures, but it works.

Other things:

I wish someone had pointed out that Neal is taking a HUGE RISK by breaking the law to clear Peter's name. Yes, if Peter loses his job Neal will go back to prison for the last, what, one and a half years? of his sentence. But if Neal breaks the law to clear Peter, and he gets caught, that's a third strike and he's facing 25 to life. Assuming that Neal's motivations in helping Peter were all about keeping his anklet deal isn't only failing to acknowledge Neal's loyalty and affection for Peter, it's also failing to credit Neal with any common sense or ability to do basic math.

The smart, self-interested thing for Neal to do in this episode would be to sit back, let the system take its course, and if Peter doesn't get cleared keep his head down and sit out the last eighteen months in prison. Much smarter than risking a longer sentence to help Peter. I'm just saying.

(This is not a criticism of El - I completely understand her being upset and lashing out - so much as a criticism of the writers, 'cause they have her and Peter bring up Neal's concern about the anklet deal as the primary motivator for Neal helping Peter.)

Also, it is ... really straining my suspension of disbelief, that Peter doesn't immediately figure out that the coin heist was the price to free him. Peter is smart enough to figure out Neal is behind it, and he knows Neal has done shady things to protect him before (1.09? 2.14?). I don't buy that he doesn't understand exactly what Neal did and why.

(Of course, it's entirely possible that he does understand, and the entire point of that conversation at the end was Peter trying to piss Neal off badly enough that he wouldn't do anything that stupidly risky for Peter ever again? Which would be both adorably tragic and kind of ridiculous at the same time ...)

Okay, about that ending scene:

I think getting some distance from Neal is good for Peter. It's also good for Elizabeth, and there is nothing wrong with Peter prioritizing something other than Neal's best interest for once. Where Peter loses my sympathy is where he says he's doing this for Neal's own good.

And I'm still trying to sort through my feelings about this, and figure out how much of my reaction is about flaws in the writing and ignoring established characterization and how much is about the fact that the show is straying close to some of my giant flashing red DO NOT WANT buttons - which is something that has nothing to do with objective writing quality or in-character-ness at all.

While I completely agree that this is a good thing for Peter, I will be very upset if it's portrayed as a good thing for Neal. Both because I really don't think it is, based on how Neal's character has been portrayed so far (stricter punishments for breaking rules he doesn't understand the purpose of to begin with isn't going to teach Neal to respect authority/the law/the system - it might teach him to fear those things, but that's not the same), and also because ... I don't like stories about characters being boxed in and backed in a corner and controlled for their own good. Characters being trapped as a source of angst or h/c is fine - I love angst! But when it's portrayed as good and right and necessary and "tough love" - well-written or not, justified or not, for me stories like that are extremely uncomfortable to watch/read. It's ... a thing.

I don't know why it's a thing, but it's a giant button I have, and if the show is going to start pushing it regularly this season I may not be watching very much longer.

(It is odd, I know, that I'd latch onto a show like White Collar, a show that is about a felon on a tracking anklet, but the show thus far really hasn't emphasized the power differences or the control Peter has over Neal that much. In a lot of ways it's easy to pretend they're equal partners.)

And now for my newest theory: I think Neal is going to DC this season.

Think about it. There was no reason to mention DC in the scene where they're talking about the promotion, unless it's foreshadowing for something. Also, if Peter is promoted to head of New York White Collar and Neal is still working for that department, Peter is going to be Neal's new handler's boss. And I think what Peter really needs is to remove himself from Neal's chain of command entirely, so he's not in a position to make decisions about Neal's fate, if he's going to get the emotional distance he needs.

Which leaves sending Neal to another city (or giving him to Organized Crime or Bank Fraud or something).

The main argument between Peter and Kramer in S3 was over whether Neal should be treated like a criminal. In 3.16 Peter is adamant that this is a bad idea ("As long as we treat him like a criminal, he'll always think that he is one", etc) while Kramer believes this is the only way to handle someone like Neal, and he needs to be controlled. Now that Peter has changed his mind, I strongly suspect Peter and Kramer are going to reconcile, and I think we are going to see Kramer again. Even if he's not Neal's new handler, I think Kramer is going come back this season.

(This is all speculation and I am completely unspoiled and staying that way, but this is my theory.)

ETA: Am I the only one who, after watching that Peter and El reunion hug, had to pause the ep and try not to cry and/or yell NEAL AND KATE SHOULD HAVE GOTTEN A HUG LIKE THAT at the screen?