I wonder how he was chosen to give this speech. I thought it was great though, one of the few times I've heard of him giving a speech other than something involving his companies. As for the whole memorizing the speech thing, I figure it was probably just because he really wanted to make sure he said what he wanted to, and besides, his keynotes are usually a little more laid back.
My only comment would have to be my slight annoyance with the dropping out of college thing. I know he said it to a graduating class, but really, that's the worst thing to say to a student struggling to get through college. "I'm successful and I dropped out" isn't exactly the most encouraging thing, lol.