Okay....Will takes Elizabeth back to the Interceptor....and she learns he came there with Jack Sparrow...and she meets Gibbs and the rest of the crew...then Will discovers that she has his medallion that was given to him by his father..he thought he had lost it at sea.....and she tells him she thought he was a pirate...and that would be awful (not)....then the ship is attacked by Barbossa...Jack escapes from his cell..just in time to save Elizabeth, yet again, from being clobbered by a nasty Pirate.."now, that's not very nice"...so Jack and Elizabeth meet again....
and then he grabs Elizabeth's hand "Where's the medallion"
"Wretch"...she calls Jack (gosh, that's hot)
"Ah, where's dear William?"
she thinks Jack is only interested in the medallion...she thinks Jack is willing to trade Will to get his ship back....she doesn't really know Jack yet (too bad they cut that part of the deleted scene when he explains all this to her):
They are all captured and brought onto the Black Pearl...the Interceptor blows up and they think Will is dead...but then he shows up and Jack is pleading with Will not to do anything stupid (like, don't tell them who you are...let me handle this)...but Will reveals he is Bootstap's Son....he bargains with Barbossa to set Elizabeth and the crew free...but he fails to specify how...so Barbossa has Jack and Lizzie walk the plank....and then this is how we get our lovely Rum Runners Island Memories....Jack and Liz finding out about each other...I love when Jack tells her what the Black Pearl really is....is freedom...and in the deleted scene where he shows her all of his scars.....he opens up to Elizabeth on this Island....lets her in on his inner most secrets and desires...and she uses him...pretends to get drunk with him so she can burn all the rum...to build the signal fire....