Joe Leiberman, who opposed Obama's candidacy for president and is no fan of Democratic foreign policy, believes the Cairo speech, "opened some minds in the Muslim world."
This is why RW nitpicks and complaints about the speech miss the point. Obama wasn't speaking to RW Jews, or trying to to win their love and support. If he was, he'd have given a different speech.
The point of the Cairo speech, as Joe observed, was to open minds in the Islamic world, specifically among the close to 1 billion Muslims who may (or may not) hate America and Israel but won't ever get violent about it. The goal of the speech, and the reconciliation work behind it, is to marginalize the violent minority, and to show the majority that organizations like Hamas are dangerous to Muslim aspirations and unworthy of respect and support. One friend of a friend succinctly put it like this: the president's goal is to turn Hamas into Neturei Karta. I think he's right.
Search for more information about Neturei Karta at 4torah.com.