I'm assuming that the contents also serve the purpose of letting America know where he's heading and asking we help him go there. To that end, seeing as I don't know exactly where he's heading, this is my takeaway from his speech. Even though I'm sure you know it, I'm posting it here to share the republican interpretation.
1. He's telling America that they elected him because of what they wanted; not because of who he is.
2. "For even as we celebrate tonight, we know the challenges that tomorrow will bring are the greatest of our lifetime - two wars, a planet in peril, the worst financial crisis in a century. Even as we stand here tonight, we know there are brave Americans waking up in the deserts of Iraq and the mountains of Afghanistan to risk their lives for us. There are mothers and fathers who will lie awake after their children fall asleep and wonder how they'll make the mortgage, or pay their doctors bills, or save enough for college. There is new energy to harness and new jobs to be created; new schools to build and threats to meet and alliances to repair."
His biggest concern is the 2 wars. He mentions it 3 times. Expect us to get out of Iraq as fast as reasonably possible.
"a planet in peril" - it's in peril, but there's no clear cut solution here. He'll probably act and error on the side of planet safety, rather than economic impact.
3. He seems concerned on mortgage's, health care bills and paying for college. Will he push on all of those, or try to cut and weave? Aka, will he throw money at students to help them pay for college, or will he try and make colleges less expensive (by somehow eliminating aid for colleges which spend a fortune on fancy activity centers)
4. "And above all, I will ask you join in the work of remaking this nation the only way its been done in America for two-hundred and twenty-one years - block by block, brick by brick, calloused hand by calloused hand."
That sounds very nice, but is a horrible literal idea. Build something block by block? Hello machinery. Now he probably doesn't mean it (brick by brick) 100%, but if he means it at all, he wants to slow down or reduce the amount of mechanization.
5. "So let us summon a new spirit of patriotism; of service and responsibility where each of us resolves to pitch in and work harder and look after not only ourselves, but each other." Does this mean, 'Please work longer hours'? ;-)
6. "Let us remember that if this financial crisis taught us anything, its that we cannot have a thriving Wall Street while Main Street suffers - in this country, we rise or fall as one nation; as one people." So, a lot more Enforced sharing.
7. 'Let us remember that it was a man from this state who first carried the banner of the Republican Party to the White House - a party founded on the values of self-reliance, individual liberty, and national unity. Those are values we all share'. And this is where I get confused. Is there going to be individual liberty, where you unfortunately suffer for your mistakes? Or is there going to be enforced sharing, so you don't?
8. 'A man touched down on the moon' NASA's safe. Yea!
9. 'Yes we can.' This is what we're going to live by for the next few years. Overcoming obstacles using the power of teamwork.
10. "to put our people back to work and open doors of opportunity for our kids; to restore prosperity and promote the cause of peace; to reclaim the American Dream and reaffirm that fundamental truth - that out of many, we are one; that while we breathe, we hope, and where we are met with cynicism, and doubt, and those who tell us that we cant, we will respond with that timeless creed that sums up the spirit of a people:"
He really wants jobs, especially living wage ones. ('work...prosperity...American dream')
11. Very motivational, good feeling speech. Market's going up tomorrow.