On at least one thing, the President was right: We the American People do not give up; we do not quit!  Remember that Mr. President - We are tired of the same old policies of confiscation and redistribution whereby the earnings and wealth of America's productive citizens are stolen to finance transfer payments to groups from whom your liberal cohorts acquire power.  America's earners and achievers are fed up with Collectivism in all its forms and we will not give up or quit in our opposition to it.  We will fight you and your party's attempts to remake our society and economy to the cartoonish "Three Wolves and One Sheep Voting On Dinner".
 
Specifically from the speech

• On more than one occasion, he attempted to goad Republicans with jabs like of "expecting them to applaud tax cuts to 95% of Americans".  Frankly, Mr. President, when half of that 95% do not PAY any taxes and you are effectively giving away tax dollars collected from America's earners, please do not expect applause.  We do not applaud muggers and bank robbers either.
• On multiple occasions, he touted the numbers of Americans who are "still" working as evidence of his economic success.  This cuts to the foundation of his newly minted "created or saved" jobs instead of being judged by the historic measure: Job Creation.  Frankly, Mr. President, it is not surprising that you seek to change the measure since more Americans have lost jobs month-over-month since your Inaugration.  Please do not expect congratulations that job losses are "not at big" until we get to a point where more Americans are employed this month than were last month (aka - Jobs were CREATED!)
• For all your rhetoric about American Business (especially American Small Business) being the engine of job creation, Americans will see that it more than teleprompter-read words when your Administration quits trying to push job KILLING policies like Democratic Healthcare Deform, Cap-N-Trade, "Card-Check", and the rampant regulation and interference of your multitude of Czars who have no practical experience with the industries you placed them.
• On energy, welcome to the party with voiced support for technologies like Clean Nuclear, Clean Coal, and Off-shore Drilling that will increase America's supply of energy.  Conservatives who have been calling for these very steps over the Global Warming / Global Cooling / Climate Change blather of your party welcome you.  However, in case you missed it while visiting Copenhagen for your Peace Prize or Switzerland for the Climate Change Summit, America has seen the evidence that (indeed) much of the "research" and "evidence" that you, in condescending lecture tone, suggested toward the Republican side of the aisle has been shown to be manufactured, manipulated, and many times completely fabricated to prop up this global scam.
• Finally, you shamelessly talked about a "deficit of trust" and the appearances of a "perpetual campaign".  Frankly, Mr. President, talk about a "deficit of trust" rings hollow from someone who promises multiple times (at least 8) to hold healthcare reform negotiations on C-SPAN and then holds them, not only behind closed doors, but even excludes the opposition party.  It rings hollow to hear you chide Congress about earmarks when one of YOUR first actions was to sign a bill that contained over 9000 of them!  It rings hollow when you talk of preventing lobbyists from influencing the political process when YOUR administration is stocked full of them!  It rings hollow when you feign frustration of an environment of perpetual campaigning when YOU just put your former campaign manager in the White House as a consultant and advisor.  Honestly, if you want to quit treated like a slick talking politician who makes and breaks promises , then actually begin following up on your own rhetoric.

 
In the end, the President spent over an hour being self-righteous and condescending to those with whom he disagrees while arrogantly calling for a "new tone".  He calls for an end to perpetual campaigns in a speech where he is still largely campaigning against former President George W. Bush. 
 
Interestingly, in the Republican response, the new Virginia Governor Bob McDonnel (who has been in office for less than 2 weeks) took 10 minutes to make more sense and present a more effective and positive vision for America than did the President who spent over an hour defending his own failed policies.  There is something to be said that the QUALITY of your ideas being a better measure than the QUANTITY of time that you have to spend defending them.  Not surprisingly, it is a much more difficult process to defend collectivist ideals that have been historically disproven in every country during every age that they have been tried. 
 
A member of the focus group that Frank Luntz polled after the speech has what was probably the best line of the evening.  According to her, "Obama is the greatest conservationist in American; he recycles and reuses his old campaign promises over and over again!"