Derby County boss George Burley failed to get one over on his former club as Ipswich came back from two goals down to earn a share of the spoils at Pride Park.
Two goals in first-half stoppage-time from Peter Kennedy and Daniele Dichio looked to have sealed all three points for the Rams.
Burley, who was sacked by Town just over a year ago, could only watch as his old side bounced back after the break with strikes from Tommy Miller and Darren Bent.
Kennedy was making his home debut following his loan move from Wigan and it was from his corner that Derby almost took the lead in the eighth minute.
Defender Michael Johnson met the flag kick powerfully with his head but full back Matthew Richards was on hand to clear off the line.
The visitors responded well and almost moved ahead themselves just two minutes later. Bent controlled a long ball on the edge of the Derby penalty area and moved in on goal - but Rams stopper Lee Grant raced from his line to block the low effort.
Derby front man Lee Morris then had a long-range drive well held by Kelvin Davis before the game changed on 34 minutes.
Pablo Counago, who had looked the visitors best player in the opening exchanges, was forced off with a hamstring injury and over the next few minutes Dichio and Lee Holmes both went close to giving Burley's men the lead.
Then, just when it appeared the first half would end goalless, Derby roared ahead with two goals in a minute.
First Kennedy curled a delightful free-kick over the wall and into the top corner of Davis' net after Dichio was fouled 25 yards from goal.
Then, less than 60 seconds later, Dichio doubled the lead when he latched onto a long pass from Kennedy before lifting the ball over Davis.
However, Ipswich looked a different side after the break and within ten minutes they had halved the arrears from the penalty spot.
Midfielder Miller made no mistake from 12 yards after youngster Ian Westlake was tripped in the box by Pablo Mills.
After Miller's strike Joe Royle's men always looked likely to equalise and it was no surprise when Bent levelled ten minutes later.
Jermaine Wright turned Kennedy inside out on the right wing and swung a cross to the back post where Bent was on hand to plant a firm header past Grant.
Both sides then had good chances to claim the points in a breathless 25 minutes but overall a draw was a fair result in a thrilling game.