The two Rays are the same person
Yes, this is another Time Lord
- That would explain why Ray V was even crankier than usual in the final episode- he was worried about crossing his own timeline.
- Diefenbaker is a Timelord wolf. Between the pilot and the series he obviously regenerated.
- And the obligatory Rays' TARDIS would be the Cool Car, which changed its disguise from a 1972 Buick Riverra to a Pontiac GTO.
- Bob Fraser isn't Benton Fraser's dad, he's his previous regeneration. Can you remember seeing them both alive at the same time? Fraser's TARDIS is his broom closet, obviously.
Ray did see a gun
- We can safely assume that running off with Victoria would not have ended well for Fraser. At all. So, it's possible that given the Magical Realism present inshow, Ray did see her pointing a symbolic gun at him.
- Alternately, Fraser was completley deluded due to the stress of the situation, and Victoria was actually pointing a gun at him.
- They were just adopted by different families, and the sister she mentioned was adoptive (she was charred,it might still have worked if they didn't look alike.) And her twin was an NYPD detective for a while, now she's head of the New Orleans crime lab.