White Collar is one of those shows there isn't much to talk about. I keep trying to think of my opinion on the episode, and to be honest, I don't have any strong feelings either way.
The story once again wasn't particularly groundbreaking or exciting. Compared to the other USA newcomer Royal Pains, White Collar has significantly worse stories.The quality of the stories will probably get better as the series progresses, but for now, there really isn't much to watch in regards to the crimes or criminals.
What works is the humor and the chemistry which is what sets apart White Collar from other shows. The scenes with the little girl and Peter were really funny, and the rest of the funny scenes worked well. Neal and Peter continue to have a father/son/brother relationship which makes their scenes fun. Peter still doesn't trust Neal as he shouldn't, but slowly that is changing.
I thought the twist at the end was great. Finally, Neal's hunt for Kate and his cooperation with the FBI will merge, and there is some connection between the two stories. He no longer can trust any of them if the FBI is involved, and even Peter may be involved. If it is an FBI sanctioned operation, having Neal around may hold another purpose. It also puts more doubt on Kate's genuineness since it is possible that the FBI is using her to get more dirt on Neal.