The last episode is supposed to be the mid-season cliffhanger not to be concluded until 2009.
The area the landing party arrives at appears to be the Brooklyn side of New York City. The landing party is next to a broad river and across that river to the left is a wide bay. The other shore appears to be the edge of Lower Manhattan with a destroyed skyline of buildings. The camera pans to the right over what is ostensibly the East River until the last two seconds of the episode where at the far right edge of the screen stands a wrecked structure with a heavily abbreviated roadway. It appears to be the East Tower (Brooklyn side) of the Brooklyn Bridge. However, it should be noted that the information on this is incomplete. For instance, many speculations as to the gas giant that Kara Thrace sees in her journey from Earth (as first explained in "He That Believeth In Me") claimed that the giant was Jupiter, when this was later disproved.
There are still several questions:
Is Number Three honest in her claim that there are only four of the Final Five in the Fleet? If so, where is the fifth and last Cylon? If she's lying, is it because she still harbors distrust for her compatriots and the humans?
What of the other Twos, Fours, and Fives?
What happened to Earth?
Will the other Cylons find the Fleet and the rebels, as well as Earth? If so, will they finish what they started?