She is delivering it more smoothly than I have seen her deliver a speech in a long, long time. There is more emotion in her voice and she seems very sincere. She is also not-so-subtly referencing her teary moment from yesterday. Slightly grating, to be sure, but probably just as effective as yesterday's big moment turned out to be.

P.S. Even in defeat, Obama's speech was spectacular. 

--Isaac Chotiner