Wow, what an episode! It's even better than I remembered it.
You guys pretty much covered all the great things about this powerful episode - the "letters to Lily" narration, the transformation, the great buildup to the climax, and the somewhat surprising "change of heart" finale. Boy, Selleck sure does put on a great performance here. The master of facial expressions, is he.
There is, of course, one other great, great scene - the superb montage sequence set to Genesis' "The Brazilian". I still can't believe they picked this somewhat obscure song. It's awesome!
Anyway, of all the "serious" episodes, this is arguably one of the best. We get a glimpse of just how dangerous Magnum can be, and the kamikaze mission showdown is tense and exciting. But just when you think they've written themselves into a corner, Magnum's final narration to Lily is an ingenious moment of redemption. It also reveals the changes that have occurred since the events of Did You See The Sunrise.