I've only heard bits and pieces of it and read some reactions to it and I don't like it. I wasn't going to like it no matter what and it has very little to do with Obama himself.
Don Imus lost a multimillion dollar gig for exactly the kind of throwaway snark he was hired to do. He had to grovel like a whipped dog in front of the PC enforcers and the perpetually insulted crowd. In the end he was fired.
Obama goes to a church for 20 years where Imus' remarks would have been unnoticed amidst the eruptions of paranoid, racist rhetoric and all he has to do is give one cute speech and everyone is swooning over him again.
Like I said, I wasn't going to be convinced no matter what.
As for the content of the speech itself, I thought it was amazing how he threw Rev. Wright under the bus with such skill. Rev. Wright was described the way you would describe a wayward child. "I know he's a holy terror in the neighborhood, but I still love him." Rev. Wright wasn't treated like a man at all. Obama never seemed to demand any kind of apologies from him or insist that he reform. Instead, it was a pat on the head and a little swat on the butt and off he scampers to rage and scream some more. Meanwhile, Obama plays the role of the loving, but omniscient parent. I found it all a little creepy.
Update: I think that's the problem I have with this whole affair. Don Imus is treated like a man and demands are made upon him to apologize and make reparations. No such demands are made on Rev. Wright. Is demanding accountability from one, but not from the other fundamentally racist itself?