Pete, Fred, Dick Laurent are the same person.
It's the biography of one man. Pete changes his name to Fred. Fred changes his name to Mr Eddie/Dick Laurent. Then when Mr Eddy dies the angel Robert Blake takes him for a trip down memory lane. Angel may not be the right word. The repo man takes him on a trip down memory lane. I don't think she was worth the cost in the end.
The other thing that happens is even when Pete is given a get out of jail free card, even when he has a chance to save his soul he still chooses to sacrifice everything for sex with Alice/Renee.
Don't we all wish we could go back to a time when life was more innocent.