Originally posted by Lestov16The Colt destroys the soul, that's why they can kill demons and angels.
1. They die
2. They ambush him with shotguns and spend 20 minutes torturing Freddy before shooting him in the head with the Colt, which I don't think will send him back to the dream world, but straight to Hell (or Purgatory)
With prep they definitely take both. Freddy will let himself get shot because he's over confident, so he probably loses both tbh.