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While the Guild of Calamitous Intent is holding Intangible Fancy on trial, Revenge (an aged Phantom limb in black costume), breaks into the councilmen's secret rooms and ends up kidnapping the two oldest members of the counci, Dragoon and Red Mantle. Dragoon's body is ruined and Phantom Limb kidnaps Billy the Quiz Boy to attach Dragoon's head onto Red Mantle's body. Phantom Limb reveals he kidnapped them to find out where the ORB is being hidden, but it's actually Billy who reveals it's in the Venture Compound in a safe.
The Guild, which apparently also knows the location of the ORB, sends its entire army to the Venture Compound to get the ORB before Phantom Limb. Sgt. Hatred, desperate to get Hank to like him, enlists Hank and his Batman / Brock skills to help him fight off the guild. Menawhile, Rusty and Dean bond over their mutual fear and team up together. The combo Mantle-Dragoon manage to retrieve the ORB for Limb and leave a bagged up Billy behind.
With the ORB, Phantom Limb attempts to take back his position as sovereign from Bowie. Based on a flashback, we learn that Phantom Limb's grandfather created the guild by kidnapping musicians (some of the council men like Dragoon and Red Mantle are revealed to be Buddy Holly and the Big Bopper). Limb wants his rightful place back from Bowie, who actually grabbed Dean to reveal that Lord Venture, his great great grandfather was protector of the ORB and therefore Dean should be soverign. He hands it over to Dean, who then transfers power back to Bowie. An enraged Phantom Limb attempts to use the ORB, which we learn from a quick flashback was actually broken by Sandow. Hilarious and perfectly fitting for The Venture Bros.
After the credits, poor Billy is rescued by the sack from Sgt Hatred and wakes up in bed next to him. We pray he wasn't raped.