The Inauguration of Barack Obama has been a magnificent event. I was one of the Channel 7 "Sunrise" team for seven hours of broadcasting this morning - and all the team felt that we were witnessing history being made. Not only was it the largest-ever crowd in Washington DC for such as event (now over 200 years old) but it was also good-natured, with almost a carnival atmosphere. There was none of anger and bitterness of the two Bush events.

Some of the points worth noting:

Obama is the best presidential speaker since the actor Ronald Reagan. We were expecting a very high standard of delivery - and we were not disappointed. (If you want to learn more about his actual speaking techniques, I suggest you read: Shel Leanne "Say It Like Obama: The Power of Speaking with Purpose and Vision", Sydney: McGraw-Hill, 2008).

He is Black - but not overly passionate in his delivery. He is not in the style of Black tub-thumping preachers (such as Rev Martin Luther King Jr). He is well aware that angry, passionate Black speakers can scare white audiences. All his movements are careful and restrained. (The traditional Black preaching tradition was best shown this morning by Rev Joseph Lowery [co-founder with Martin Luther King Jr of the Southern Christian Leadership Conference and most recently pastor of the Cascade United Methodist Church], whose Benediction was one of the most memorable ever).

He is young and Black - and so again potentially threatening to white audiences. But his constant positive references to US history and values emphasized his continuity. He may be wanting a "change" - but he is not promising a revolution.

Additionally there was no hint of retribution; none of the "I've got the foreman's job at last" sneering, vengeful rhetoric. He did not dwell on the fact that he is the first Afro-American president. He was not boastful or offensive.

Obama has promised some major foreign policy changes. There were not set out explicitly - again perhaps in his conflict-resolving style of not wishing to be provocative to the outgoing Bush, seated close by. But he has reaffirmed the pull-out from Iraq and increased work in Afghanistan (the real frontline in the so-called war on terror). He is seeking a less confrontational style with the Islamic world: "we will extend a hand if you are willing to unclench your fist".

The criticisms of Bush were there all right - but they were not explicit. The US has become a paranoid, frightened place compared with the US I knew and fell in love with when I first lived there in 1970. The so-called war of terror has been used to scare people - and erode human rights. Obama made a great point of reaffirming the importance of the Bill of Rights - drafted by the Founding Fathers who "were faced with perils we can scarcely imagine". They saw the importance of civil liberties despite the military threats to the nation (eg Britain had yet one more war to wage against the new nation and British troops in 1812 set light to the building in which he now resides: the White House). Despite those dangers, they still went ahead with the Bill of Rights. Bush reversed that progress after 9/11 - even though the threat from terrorism today is far less severe than that confronting the Founding Fathers two centuries ago.

He reframed (a great conflict-resolving skill!) the US's multicultural heritage: "our patchwork heritage is a strength, not a weakness". He reaffirmed America's melting pot role - and sees that as potentially ushering in a new era of peace.

Overall a brilliant speech, brilliantly delivered.