Not really much happening here.
Except this is the first time we see Buffy trying to balance her destiny as a Slayer with her desire for a “normal” life. Owen, the brooding guy who tries to connect with Buffy and succeeds brilliantly, but in the process, without learning that she is the Slayer, wants to become “Dangerman” and pick fights with everyone.
The famous “If the apocalypse comes, beep me, ” phrase appears.
As does the first time Buffy says, “Bite me.”
And Cordelia really does not come out of it good at all. After she bumps Buffy aside to sit with Owen at the lunch table, knocking Buffy’s tray down in the process, Buffy says to Owen, “Boy, I didn’t realize Cordelia’s hips were so wide.” Owen then proceeds to ask Buffy out for a date.
Cordelia’s reaction to seeing Angel for the first time (“Hello, salty goodness!) is undercut by Angel ignoring her and approaching Buffy. “What’s happening to me?” she asks. We can only respond with Xander’s answer to basically the same question in “Out of Mind, Out of Sight” (1.11).(muffled cough) “Karma.”