I liked the last 3/4 of what he pointed out, I noticed it while watching O'Lielly the other day and am glad CNN picked up on it but... "We did the fair and balanced thing and pointed out that the tone of Faux's coverage has changed a bit since the Bush years". "Changed a bit"?!? It's changed a LOT and not in the way he's implying.
From
http://videocafe.crooksandliars.com/david/kurtz-slams-oreilly-unfair-editing">Crooks and Liars
In a segment complaining about how his remarks were taken out of context by Jon Stewart, Bill O'Reilly managed to take Ann Kornblut's comments about him...out of context. Jon Stewart pointed out how O'Reilly's views on protesters had changed since right wing protesters had begun appearing at health care town halls. O'Reilly is known for referring to liberal protesters as "loons" but now openly defends the right wing protesters causing distractions at town hall events. O'Reilly complained that Stewart had taken his comments out of context.
CNN's Howard Kurtz points out that O'Reilly is also guilty of the same "unfair editing" that he accused Stewart of doing. O'Reilly used a clip of Ann Kornblut explaining Stewart's criticism of O'Reilly to suggest that she agreed with Jon Stewart. Kornblut had actually provided a mild criticism of Stewart. O'Reilly had selectively edited the Kornblut clip to fit his agenda.(Title edited thanks to MadBadger's more appropriate suggestion)