OK I am operating on various assumptions based on spoilers. Angel has chosen to use the W&H connection to sort out the Connor problem rather than to facilitate his own redemption, which is sensible, because any redemption he got that way would be hopelessly compromised and poisoned.
Lilah gives him the file on Sunnydale and the talisma, which he gives to Buffy, which she gives to Spike. Spike makes an entirely selfless sacrifice of himself using the talisman.
My guess is that he gets to be the vampire with a soul who shansus and that the Spike we see in A5 has been turned human.
My reasons for this are as follows:
1. A show with two ensouled vampires is not an especially good idea.
2. I love the idea of Spike getting to tease Angel while also knowing that he has got the gift Angel renounced. And that 'Someone wasn't worthy' crops up in a Previously.
3. JM is v. dishy but time is his enemy. And if he is playing a human Spike, that is less of a problem.
4. Human Spike plays better with the rest of the AI gang. Gunn really would not relish another vampire on the team and nor would Wesley - but a human Spike would fascinate the latter and be an interesting contrast to whatever Gunn has now become. Fred and Spike will bond the way Spike and Willow used to - she is scary mad girl and he is a sucker for that and he has charm and will not lose it. Spike and Lilah will look at each other through half-closed eyes and spot someone with whom they can exchange banter for years, and who will help them tease Angel. Spike and Lorne - be still my beating heart.
5. Seriously, Angel's major risk here is despair, which David B does well. He has so much to lose and has lost so much of it.
6. When and if Cordelia awakens, she and Spike will be the semi-outsiders of the group. No-one will ever trust her again and will treat her all the worse for feeling guilty at blaming her for what was not her fault. Spike OTOH was not around and knows innocence when he sees it. NB this applies even if I am completely wrong about his being a vampire or not.
7. If the person who was once Connor turns up with confusing dreams, Spike also has no history there.
8. A quest to redeem Drusilla is a plot I would like to see at this point. Angelus's most unconscionable act ought to form part of Angel's redemption. Cordy, Spike and Fred would all have their own reasons for caring what happens to her now. Cordelia because of the abuse issues she will now have; Spike for old love; Fred because she is nice and has been mad.
My problem was never with Spike; it was with the time-expiry on the Spuffy plot and the way it went rancid around 'As You Were' having been OK as late as 'Dead Things'. It sort of recovered in 'Seeing Red' and in early S7. but has just become an ongoing bore as it waits for the finale. Which will probably redeem it as well as Spike.
So green_amber does that answer your question?