It was a great speech. He swung at and hit the Iraq doubters, the judicial activists, the Patriot Act bogeyman, the tax and spenders, the treat jihadists as criminals crowd and quite a few more.
The criticism will be that he has no big programs on the agenda. GOOD!
Actually, you are spot on. Bob Schieffer on CBS mentioned that there was no really big ticket items mentioned, but that it was still a good speech.