Clinton veteran Josh Green has the best take of Hillary's speech. A few paragraphs:

Clinton obviously still wants to be president. Tonight, she swallowed the entitlement that is intrinsic to both Clintons and said the right things. She made the intellectual case for Obama. She seemed finally to accept that, at least for now, her own political future is inextricably bound to his. Most important to the Obama campaign, she explained in somewhat clinical terms why she supports him, and indicated, fairly explicitly and before an audience of diehard supporters, that everyone else must now do so too. She checked that box.

"None of us can sit on the sidelines," Clinton said, but did not implore. "No way. No how. No McCain." Had the message come any later, it wouldn't have counted. Had it come with real feeling, it would have counted for much more.

He echoes some of my concerns.