He's not in any way, anywhere NEAR the turrible material that Leno did.
"Heya folks, Monica Lewinski, Bill Clinton, Michael Jackson, KEVIN EUBANKS heh heh heh"
Conan's monologue has always been dumb, but funny because of his acknowledgement of such fact. His little video pieces have been great since he started back up. The Universal tour, the sound dubbing, the clothes shopping, Bonnaroo, etc have all been great.