Frasier, still unemployed, is hesitant to attend his high school reunion due to what he deems 'Frasier's Curse'. Every five years, when reunion time comes up, Frasier is temporarily down on his luck; losing his job at KACL is just another symptom of the curse. Frasier fears if he attends, he'll sit at the last table with the chess club barbershop quartet.
When Frasier begins to get on his father's nerves, Martin, Daphne and Eddie move in with Niles for a few months. Daphne announces that since Martin's hip is improving so much, she'll be looking for other employment. Martin soon fears Niles is trying to injure him to keep Daphne around.
Niles drives Frasier crazy during a temporary stay with him after he's forced to move out of his palatial abode due to a sudden decrease in cash flow. Frasier tries to help Niles adapt to his new standard of living.
Valentine's Day experiences for Niles, Frasier, and Martin and Daphne comprise this episode. First, Niles' cozy dinner for two at Frasier's apartment is ruined when the couch catches fire. Next, Frasier can't figure out whether his ambiguous dinner companion sees him as a co-worker or a romantic prospect. Finally, Martin and Daphne dine together, commiserating about their loneliness.
Niles dumps his top-notch lawyers for a down and dirty scrapper when Maris moves to postpone their settlement. The new attorney, Donny Douglas, warns Niles that in depositions, Maris' attorneys will be asking about Niles' passion for another woman, Daphne. Niles fears Frasier's compulsive truthfulness will let the cat out of the bag.
Devastated by Daphne's blossoming relationship with Donny, Niles plans for a Crane Boys vacation to his newly acquired (from Maris in the divorce settlement) cabin. Upon learning Roz is still pining for Donny, Niles invites both Roz and Donny to the cabin, hoping to split up Daphne and Donny. When Frasier and Martin arrive earlier than expected, Niles and Roz are forced to pretend to be lovebirds to protect their scheme.
Niles manages to reacquire his prestigious apartment at the Montana, only to find that the tenant's association is trying to evict him due to his sub-tenant's incessant tap dancing. Niles' attempt to throw a luxurious dinner party to win over the board goes wrong when first his bird, then a guest die.
Martin learns Donny plans to propose to Daphne. Daphne asks Niles for his advice when she "sees" a vision indicating that Donny isn't her soulmate. Niles is torn between his professional ethics and his passion for Daphne.
Niles is lonely and desperate when he realizes he has no romantic prospects while Daphne, Frasier and even Martin are all happy. Niles dates a younger woman and adopts her trendy culture. Meanwhile, Roz takes up with Bulldog, but can't bring herself to dump him after he loses his job at the station.