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Episode 4.
Araragi's plan to get rid of the cat was incredibly reckless and came at a complete disregard for his own life, as usual. He would have died if Shinobu hadn't intervened, and he wouldn't have minded. On the contrary, the thought of dying for Hanekawa made him happy. In spite of this, he still couldn't save her. Because she is the only one who can save herself.
The reveal that Hanekawa was in control all along was interesting. She was using the cat to run away from her problems, which is not a good solution by any means. I can't blame her for doing that, however. If anything, that proves she is actually human, albeit a very abnormal one.
The ending tied well into Bakemonogatari. The way I understood it, Araragi's love for Hanekawa didn't count as his first love because the person he was in love with (the mask Hanekawa wore) didn't exist. His feelings toward the real Hanekawa are more complicated. Even so, he probably wouldn't have rejected her if she had confessed to him before Senjougahara. Not sure their relationship would have been healthy though.
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