Great review scherpy - this is one of those films that I haven't watched yet - but more to do with the quality of the copy I have (rather than quality of storytelling) which (like yours) is cobbled together - this one from maybe 4? different sources - it's got Spanish, English, silent, Arabic subs? - who know's what else (maybe Phil does, I think he's watched it).
I do however have the Star-Cine Bravoure magazine story of it though which may tell the story more coherently...
Anyway, it seems the trouble starts when Billy-boy (Robert Woods) cops a leer at some woman's blouse-puppies and this seems to provoke a gunfight ...
then we've got Sancho staked out - rescued, nicks Billy's horse. Billy goes to the GG ranch, plays cards in town, has a fist-fight, meets Sancho again (who seems to be his friend?), some greasy lookin' town boys chat a bit. Ranch on fire, summat going on in a bank, fisticuffs, riding some horses thru' a river, some bloke I've never seen before having a snog on ranchbird, smarmy town-boys, gunfight in the desert, fight in a haybarn, face-off with town-boys and shootout.
And it all ends how it started with Billy-boy copping a glance, but looks like he struck lucky this time and's gonna get to cop a feel as well.
But what the fuck would I know - it's in French.
I also think this film must be cut - as nowhere in this story does Fernando Sancho laugh maniacally and fire wildly with no regard for aim.
I hope this helps, anyway.