It's astonishing. Check out the link above to shakesville for a *partial* list of the things that make the speech so... stupendously stupendous. My favorite, though comes at the time of the reference to the "Magner Carter":
Nearly 800 years ago, the Magner Carter placed the authority of yer government under the rule of law
That's right, Shrubya - government under the rule of law. It's delicious - the one thing he can't stand in America, he thanks the British for inventing.