Whomever kills The Great And Powerful becomes The Great And Powerful. Hat, cape and talking in the third person are mandatory. On a related note, Twilight Sparkle is having a very bad week.
Another ancient villain of old appears in Equestria after his 1000 year imprisonment and Twilight is angry because of it! Not at the bad guy, but at Celestia for failing to mentioning ANOTHER powerful, sealed away villain that managed to escape.
I knew there would be trouble when Discord started asking about dreams. He just wanted to make them better, he said. More interesting. In a way he was right – in a very terrible way that we must stop, before it is too late.
Spike is excited to find he has a place in Ponyville other than as a personal assistant. But after being turned down, he discovers Twilight hasn't exactly been forthcoming with how ponies really see him.