An awesome movie ... I loved it - have watched it many times.
I did find a very good site going through the time travel part of it (films usually contain one big paradox in them). It explained why the events you see are the third time the occur:
First time through the loop he would not have the memories of seeing himself being shot
He had the memories of her (Mad Stowe) looking sad and told her this so she made a point of smiling at him
Therefore ... you are watching the third iteration and the memory the little lad would then have wiould be different again.
I'll shut up now before they stick me in with Brad (We're all monkeys!)