It turns out that Terry Crowley's murder at the end of the first episode of Season 1 is faked. Vic Mackey gets all charges against him dropped and he retires to the Caribbean with a full pension. Dutch Wagenbach finally admits his love for Claudette Wyms and they start to get hot and heavy on the desk in her office, until Dutch shoots his load too early.
But seriously, I don't know what is going to happen tonight (updates at the bottom). With regard to Vic Mackey, there are three possible scenarios:
1. He dies, either by murder, gun fight with Shane (who also dies) or by suicide.
2. He lives but goes to prison.
3. He lives and avoids jail time, but he loses everything, his family, his friends, and any chance of ever making an honest living.
Oh wait, I shouldn't rule out another possibility:
4. Mackey gets away with everything, gets another law enforcement job, and gets back together with Corinne.
Yeah, I know it's not likely, but Mackey always seems to find a way to come out on top, so I have to keep my options open! Anyway, I will find out what happens to Mackey and the rest of the characters of the show in an hour and forty minutes.
Gratuitous picture of Paula Garces as Police Officer Tina Hanlon.
Well, as I noted in the comments, Vic's fate is mostly Option #3. He loses everyone in his life. His wife is in protective custody and his former friends are either dead or they despise him. He still has a job in law enforcement, albeit as a desk-bound clerk on a tight leash, which he has to endure for the next three years, or else he will be in violation of his immunity deal and will go to prison.
Like the end of the last episode of The Sopranos*, The Shield ends on a rather ambiguous note, with the answer to the question "Where is Vic going with that gun and what is he going to do?" being left up to the viewer's imagination.
* As an aside, I never really watched The Sopranos, but having looked at the final scene, I tend to agree with the possibility that Tony was whacked, and that the sudden fade to black means that he was killed right at that moment.