red and kitty are staying in pointplace (she could'nt leave her memories behind, he could'nt leave the packer's season tickets hyde bought him with the money that red presented to him-red had been saving all the rent money hyde had paid him and gave it to him as a gift to get started on his own).
bob is still going to move to florida and open a baitshop on his own.
fez and jackie became a couple, had akward moments initiating a physical relationship and finaly kissed.
hyde's dad sold all the record stores to a chain of drycleaning stores-firing all the employees, but kept the one hyde managed and gifted it to him.
kelso returned and advised he had taught his baby daughter to say "burn", had been promoted to supervisor at the playboy club, and got tricked into once again jumping off the water tower.
donna affirmed her decision to break up with randy and planned to leave for college when word that eric was coming home arrived.
eric missed his flight (dumb ***

) but arrived just before midnight on new years eve to proclaim "red was right-i'm a dumb ***" and reunite with donna (awwwwwwwwwwwwwwwwwwwwwwww).
oh, and hyde had a "freak out" during "circle time" and swore of drugs-until the gang staged an intervention and got him back.
lots of flash backs, some great scenes where kitty and red are showing their house for sale (i never knew they had a "den").