Quick recap....spoilers for those who might watch it later....
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Don't look!
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It picks up where they left off last week, with Chuck going over to Sarah's place, but then discovering Bryce there (DUN!). Apparently they have to go after some microchip that has an "update" for the Intersect that some rich geeky guy was hired by FULCRUM to decode. It has everyone's cover IDs, so they have to get it back. Rich guy is throwing a big party and Bryce and Sarah go undercover as a married couple that are all over each other. Chuck poses as a waiter. He gets so jealous of Sarah and Bryce dancing and tonguing each other all over the party that he gets "fired" and thrown out. Casey gets him back in, and he ends up finding the chip, but the dude gets away with it and Chuck gets grabbed by an evil agent. Sarah goes to save Chuck instead of the chip and almost gets herself blown up. Chuck ends up tracking the guy down and doing this hilariously disastrous exchange with cash for the chip, but they end up getting it anyway.
All this just so Bryce can mess with Chuck's head and tell him that Sarah has feelings for him, but she can't because it'll get her killed. And then later he tricks Chuck into putting the images from the chip into his head and then destroys the chip so that Chuck stays as the only intersect. DOH!
And there was a funny side story about Morgan being bullied by jocks from another store, but is saved when Anna turns out to be a secret ninja. Oh, and Captain Awesome is awesome.