Wow, I came away with a different impression. I watched it last night and thought Colbert was not that good because his jokes seemed to be too small minded. He was funny when he first talked about the head vs gut, but then it was time to move onto something else. :-) The beauty of liberty is that there's something for everyone.
Captain Ed was watching Fox and he gave this perspective
http://www.captainsquartersblog.com/mt/archives/006875.php
I just felt so embarassed for Colbert last night; NOTHING he said was funny, nor did it get many laughs from the audience. The video with Helen Thomas was funny at times, but because its premise was attacking the President about Iraq, it seemed hostile overall.