Alrighty, LET'S GET DOWN TO BUSINESS! TO DEFEAT...THE HUNS!
The first episode of RWBY opens up with a voice-over detailing what legends are. Already you know it's going to be a kick-ass series, and that the characters have the potential to become legends themselves.
She relates to the audience how humanity rose from the dust, wise and resourceful, but had to contend with evil creatures born of darkness, known as "(Creatures of) Grimm." In order to survive and thrive, humans took a naturally-occurring, crystalline-like substance, appropriately called "Dust," and now with nature's power in their grasp, they drove back the Creatures of Grimm and began to prosper and create civilization and kingdoms.
As the story skips to the present day, the narration says that although there are bright lights, should they fade, darkness will always be waiting to take over. The scene shifts to a major antagonist, Roman Torchwick, aforementioned crime boss (if you're lost, read the previous RWBY RECPs for the trailers).
Roman and his lackeys rob a dust shop, and one of his goons accost Ruby, who is at the magazine rack and has headphones blaring the show's theme song. She doesn't hear his demands to put her hands up, until he catches her eye and she removes her headphones. He then proceeds to tell her to put her arms up, and she asks him if he's robbing her. When he confirms this, she simply goes, "Oh."
Next thing you know, the man is sent flying and the other lackeys and Roman catch notice of Ruby. Roman sends them after her, but she easily dispatches them all with her sniper-scythe, Crescent Rose, before Roman sighs and sarcastically remarks they were worth every penny. Then he fires cane-like gun, Melodic Cudgel, and escapes when she's distracted. She spots him on a fire escape and she asks the old man who owns the dust shop if he'll be okay if she goes after him. He nods, and so she takes off after him, catching up.
He's annoyed at her persistence, before a huge helicopter-hovercraft type machine pulls up -- his ride. As he boards, he tosses a red crystal, dust, at her feet and tells her it's the end of the line, before firing at it in order to detonate it. Before it can, a mysterious huntress appears out of nowhere before Ruby, and once the dust clears, she and Ruby are safe -- it's revealed she has protected Ruby using gloating, purple magical, rune-like markings -- glyphs.
The huntress then strikes back at the plane, prompting Roman to say, "We've got a huntress!" The female pilot, whose face is hidden in shadows, then transfers controls over to Roman while she battles the Huntress.
The mysterious female pilot combats with the huntress below while still aboard the plane, and both trade blows and turns the other's attack on them, proving incredibly capable. My favourite thing is how the badass fighting capability of the series is displayed first and foremost through the women, and setting the tone for an awesome as hell series.
Ultimately, they fight to a stalemate with the Huntress nearly winning but having to save Ruby from being eviscerated by lava erupting from the ground -- the mysterious woman has an affinity for fire and heat and lava, the way the mysterious Huntress has an affinity for telekinesis and weather.
After the Huntress saves Ruby, Roman and the mysterious woman get away. Ruby then promptly states that the woman who saved her was a huntress, and freaks out when asking if she can have her autograph.
The scene cuts to Ruby being scolded in an interrogation-like room by the Huntress, who says Ruby was reckless and could've gotten herself and others hurt. If it were up to her, she would send her home with a pat on the back...and a slap on the wrist. Ruby barely avoids having her hand smacked by the woman's riding crop weapon. The woman then says that someone wants to meet her, and so a man is introduced to her.
He has questions for her, is amicable, and asks what she was doing and who taught her how to wield her scythe. She says it was her uncle Qrow (pronounced "crow"), and that she was garbage before he taught her. He asks why she's training to become a warrior, and she says she wants to be a Huntress. She relates how she has two more years left at Signal Academy (where she was learning/training before), and then she plans to apply to Beacon Academy, where her sister Yang is going to begin this year.
The man asks if she knows who he is, and she says yes, that he's Professor Ozpin, headmaster of Beacon. They formally introduce themselves, and he asks if she wants to come to his school. She says more than anything. Ozpin glances to his companion, who rolls her eyes as though she knows it's a bad idea but can't stop him anyways, and so he agrees to let Ruby in early.
The next scene immediately shows Yang excited and hugging Ruby, unable to believe her sister is going to join Beacon with her. Yang thinks Ruby will be "the bee's knees," but Ruby says she doesn't want to be treated specially and just wants to be a normal girl with normal knees. The news cuts across them, talking about a peaceful protest of faunus being taken over by the White Fang, an extremist group.
The news is then turned off only to be replaced by a holographic projection of that mysterious Huntress who saved Ruby. Yang asks who she is, before the holographic projection, unaware of the question and obviously pre-recorded, introduces herself as Glynda Goodwitch. She informs them that they all worked hard to be accepted into Beacon, and that the world is experiencing an incredible time of peace and that, in order to uphold it, they need to be trained and prepared by the generation before them, so they will do that.
The hologram turns off, and Yang and Ruby look out the airship to see Beacon in the distance and a glorious view all around them. However, a blond boy runs past, vomiting off screen and becoming a joke before he's even started. As they fly off into the distance and their "new home," as Yang put it, Ruby points out Yang has vomit on her shoes and they squabble a bit as they try to avoid it.
The first episode has only just begun, and it's set up a chapter of awesomeness. You don't even know yet, but you'll learn soon!