Our own James Fallows was underwhelmed by Obama's speech, though not as much as the rest of of the blogosphere:
I thought it was not one of his best but that it did the job. "The job," in this sense, was having the party leave the convention feeling as if they had a case to present. I don't buy the argument that some of the home-run speeches of the convention -- by Bill Clinton, Michelle Obama, Deval Patrick, Julian Castro, Andrew Tobias, and others including in their particular ways John Kerry and Joe Biden -- "raised the bar" for Obama or "set him up for disappointment." At the Republican convention last week, speakers like Chris Christie and Marco Rubio were outright auditioning to be the candidate in 2016. That ambition depends on Romney's failure this year. Everyone at the DNC was pulling to get Obama and Biden across the line this year; each speech built on the others rather than competing with them for attention.
I felt a growing "Meh" in my gut in regards to the speech that never quite went away. I need to watch it again, but he felt flat to me. I'm not sure how much it matters. Likely the job report matters a lot more.