Jesse has a post which you should go read and then come back.
One thing that I really want to stress is just how much this event is not a canned television event. It's one of those things you always hear about conventions, that they're just a canned event, that they're a show put on for the audiences at home. It's shocking how not true that is. Sure, they're timing the event to fit in with the hour or so of network coverage that they've been granted, because while a football game can cut into the Sunday night lineup, something stupid like this can't. But, otherwise this is a show for the people who are here. And, if the media don't like the "canned" version, they're free to cover it any way they want, which appears to involve interviewing people in funny hats.