Amazing episode as always !
You guys said all there was to say (more or less), but I'll just add that now, there's one relationship between characters I really look forward to see evolve : Blackbeard and Rackham.
The apparent contempt of the first for the other is... well, I see Blackbeard point somehow, but I hope he'll get to see more of Rackham's qualities, silvertongue and intelect. Sure, for the cracky grandpa (kuddos CatMack for that one) that Blackbeard is, Rackham may appear as a "lower kind of pirate", but truly, I think Rackham is most suited for the current situation than Teach. And I hope he'll get to respect him one way or the other.