I thought it was quite good on many points, although I thought the implicit criticisms of the Bush adminisistration (and perhaps earlier ones, as well) was somewhat unnecessary given that they (the past presidents) were all on the podium with him. And while there are many who do not agree with all that the Bush administration has done, he has shown himself to be pretty classy in the way his administration handled the transition (compare that with the way Clinton's administration handled the transition to Bush).
He'll have, I think, a significant honeymoon period, and a relative ease of passing legislation with solid majorities in both houses of congress. I'll be quite interested to see whether his call for all Americans to sacrifice to put our nation back on solid (presumably economic) footing was just rhetoric, or whether he was serious. Of course, it all depends upon whose ox is getting gored. Sacrifice is quite noble--especially if someone else is doing the sacrificing.