After helping Karen (Deborah Ann Woll) bully Foggy (Elden Henson) into a war with the District Attorney by representing the Punisher (Jon Bernthal), Matt Murdock (Charlie Cox) abandons his team to spend the evening with Elektra (Elodie Yung) and help her steal an important ledger from the Roxxon corporation during a party. Can you say spy sequence? By the end of the episode we don't trust Elektra any more than Matt does, but we also have to admit that the two work well together (both in and out of costume).
With "Regrets Only" we begin to see the same arc which we witnessed over the First Season play out. In the first few episodes Nelson and Murdock are united but Matt's extra-curricular activities and split interests will begin to cause friction between the pair and the unraveling of their friendship before bringing the pair back together in a less cohesive form by the end of the season. While it's reasonable for Matt not to want Karen to know about the return of his kick-ass ex-girlfriend there's really no reason for Matt to hide the fact from Foggy except to allow the tension between them to build to an eventual explosion. The longer he hides Elektra's return the more it seems like a plot device than a character's choice.
The episode also showcases Elektra, both in the opening scene fighting with Daredevil against the agents of the Yakuza, and during the party where she's willing to follow her ex's lead (as long as it gets her what she's after). While the previous episode made a concerted effort focus on why Matt and Elektra aren't meant for each other this episode begins to show us how naturally the pair fit together (when Elektra isn't slitting people's throats for her own amusement). While the storyline will eventually get a bit bogged down in the mysticism of the Hand and the Black Sky, in this episode their pairing works quite well.
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