Catch up on Part I here! So it turns out the meteor is in two parts, they both need to be assembled for the alien to enter its breeding cycle, and the possessed MI officer is trying to get it to the farm and assemble the parts. For those of you who don’t want to watch the episode and haven’t already guessed, he succeeds, but our heroes are able to destroy the alien through a very gratuitously established Chekhov’s Gun.
As a finale for the series I suppose it succeeds inasmuch as it contains most of the familiar Space Precinct tropes, including Brogan trusting someone on incredibly flimsy evidence, Brogan going rogue in pursuit of justice, Brogan’s work-family conflict (it’s his wedding anniversary, of course), Chief Podly undergoing another violent character swing (having spent the past episode telling his officers not to get involved with the missing persons case, he’s now taking the opposite stance).
There’s some minor end-of-season development, too, in that Haldane and Castle admit their feelings for each other, though frankly there’s less chemistry between Haldane and Castle than between Castle and Took. Also Brogan’s family turn out to love him anyway and accept the vagaries of his job, though his wife still calls him “Brogan”. Carson gets a few more lines than usual. There’s also the only bit of location filming I’ve seen on this series, which is not a good thing as it makes the Creon and Tarn masks look really really fake.

All in all, I’d say Space Precinct is the only series on record to have ended with a bang AND a whimper.