It was a lagfest. A crush of avatars crowded into hear Philip Linden's speech opening SL7B this morning but to my mind it was worth it. At one point I counted 195 avatars in the 4 sims around the stage - many had been there since the event opened just to ensure they could hear him when the time came. There were voice/sound problems as always. But again, I think it was worth it.
You can read or download the full speech and I suggest you do at least one, but the critical part was this...they're redoing their plans and I suspect many things will be put on hold.