WARNING: SPOILERS. MASSIVE ONES. YOU HAVE BEEN WARNED. IF YOU CLICK THE LJ CUT BELOW, I AM NOT LIABLE FOR ANY EMOTIONAL DAMAGE THAT MAY OCCUR.
General Summary Of What Happens
-Highlight Battle: Roy vs. the Fuhrer. Roy wins after the Fuhrer's son pulls out the skull of the alchemist that created him. Insert Hamlet joke here. The Archer-1000 and Riza trade bullets, with Archer scoring a hit and advancing towards the mansion to kill Roy. Fortunately, Riza crawls out of the car and takes him down with a full clip.
-Inside the dance hall, Gluttony is starting to eat at Al, when the alchemist tattoos cover Al's body and start glowing. Al then gets up and threatens to do... something or other. Envy tries to jump Al. Fade to white.
-An ethereal Ed is standing outside the gate. Al fades in, then fades out. Envy fades in, doesn't fade out. Decides he wants to go hunt down Hohenheim, opens the gate, dives in. Tons of black babies start eating him. Shifts into a variety of forms and dissapears into the yellow tunnel.
-Dante tries escaping. Gluttony catches up to her by chewing through the bottom of the elevator. She tries to do something, but the elevator is empty when it reaches the top.
-Back in the dance hall, Rose is standing over Ed, who appears to have been healed. She explains whatever happened to Al. Ed walks off.
-Ed draws one of the Scar-style alchemy circles on the floor, as well as several circles on himself.
Commercial break (plug for the 2nd RPG)
-Everything appears to have returned to normal in Central, as Jessica (I'm going to assume that's her proper name after seeing 'Schezka' and similar in fansubs) narrates in a letter.
-At Winry's residence, she and Rose watch Al, returned to his own body, play with Winry's dog. Al and Ed's teacher along with everyone else in that caravan show up. Dinner is had, when Al announces his intention to do something in relation to finding his brother. We see that Wrath has been outfitted with some of Winry's hardware to replace his old arm and leg.
-Somewhere-or-other (I think a European city), 1921. Hohenheim buys groceries. He returns to his home to find Ed reading a new study on rocket fuel by Goddard, I believe. Ed announces his intention to do something, I believe in relation to finding Al.
Closing shots show Al and Ed more or less doing the same thing, sitting on the train, reaching their arms out to the sky.
Closing commercials - Plug for the CD/DVD Perfect Box of all the OP/EDs, short plug for the movie.
So, there you have it. Although I haven't been an FMA fan for too long, I must say that I enjoyed the series immensely, and that I think this was an ending that will satisfy everyone, as well as provide a reasonable place for the movie to pick up from, although since the movie is supposed to take 2 years after the events in the TV show, who knows what they'll do.
Reporting live from Tokyo,