White Collar is at its best when it is charming, and that's exactly what "Veiled Threat" is, fun, playful, and very charming. The difference between this episode and any other episodes is that the setup goes beyond the usual loose collection of tricks and focuses on the black widow Selena (Mädchen Amick) and Peter's undercover operation to nab her. Along with Pete on the sidelines helping, Elizabeth slowly becoming incensed, and the other supporting characters chiming in, the episode is better plotted than a large majority of White Collar episode.
Continuing the trend this season, all the characters (except Sara) are used effectively for plot purposes. Now all that's missing is a Jones episode, something that should happen soon since Diana got her own episode a couple weeks ago. I'm still ambivalent on Sara, but her brief appearance did add to the fun of the scene.
Score: 9.0/10