Ingtar tells Rand that Moiraine convinced Agelmar to name him as the group’s new leader if Ingtar dies. That would have been awkward if he died before this. Moiraine also gave him a secret package to be given to Rand at this point, which he finds is the banner of Lews Therin. Mat and Perrin choose this exact moment to stumble across him, so finally Rand has to tell them everything. It’s a relief to have this over with, but Mat still has to spoil the moment by acting like Rand’s a time bomb, so he’s taken a step back to being The Scrappy even without the dagger. Loial has also found that a stone at the campsite used to have writing on it, so that’s probably important but I have no idea how.
And then something I’m very surprised we’re getting this early: Fain’s viewpoint reveals that all those direction changes were due to him fighting the Fade over where to go, and yesterday the dagger finally gave him the strength to kill the Fade. So now all the Trollocs and human Darkfriends are terrified of him, enough that he orders them to kill all the people they kidnapped at once and leave their heads for Ingtar’s group to find. So he’s now officially moved to being a Complete Monster, and I’m also excited that the book now has a concrete villain rather than the various minor bad guys in book one.
Now here’s a surprise: a chapter that’s all about resolving things I was sure would be played out through the whole book. And Fain’s suddenly gotten a whole lot more interesting, and is apparently going to be the main villain of the book before being killed, probably by some group of Aes Sedai neutralizing the dagger, while another of the Forsaken steps in for book three.