It's Martin's 65th birthday, and instead of competing with each other as they have always done over who can buy Dad the best present, Frasier and Niles decide to set a limit over how much they can spend this year, with Frasier deciding to get Martin a wallet and matching, keycase while Niles gets him a subscription to a brewery that will deliver a different case of beer each month. However, when Niles reveals that his gift is $100 over the limit, Frasier can't believe what he's hearing, so Niles suggests he just put $100 in the wallet, and so the matter seems resolved. Meanwhile, Sherry has big plans for Martin's birthday party (even if it's Daphne who's doing all the work), and has found a picture of Martin back in his police days of him aboard his beloved police horse Agides, which Sherry intends to blow up to lifesize, with Martin recalling how much he used to love the horse.
The rivalry, however, between Frasier and Niles over the gift they are going to buy Martin escalates again when both Cranes return their gifts for something bigger. Frasier thinks he has won after buying an enormous TV complete with massive speakers that he hates, but knows Martin will love, but when Niles sees it, Frasier wonders why his brother is not twisting and writhing in jealousy. The answer is soon revealed - Niles has managed to track down Martin's police horse Agides and set him up on a stable for him to visit any time he likes! Frasier realises Niles has won, and the pair take their father down to the stables to meet Agides. At first he is overjoyed to see him, but Martin then becomes quite melancholy after a while, which seems to continues throughout his party too. After the party, Niles and Frasier discover their father down at the stables talking to Agides about the sadness of ageing, which causes Niles to graciously say that Agides came from himself and Frasier (as long as his brother gets rid of the big screen TV from his apartment!)
Roz surprises Niles by kissing him Niles: Everyone kisses better than Maris!
Daphne fills Niles in with Sherry's meat-based plans for the food at Martin's party Niles: I assume these colourful balloons are for the between-course angioplasty(!)
Niles is aghast at the giant screen TV, but Frasier tries to persuade his brother it has its advantages Frasier: Just think how a screen this size will enhance the majesty of the Metropolitan Opera, or the thrilling artists of the Bolshoi. Niles: You're quite a Bolshoi artist yourself(!)
Sherry loves the new giant screen TV Sherry: Wow, she's a beaut! Marty and I are gonna be spending a lot more time here. Frasier: It's a gift that keeps on giving(!)