I watched this last night. It was interesting to hear Leno explain it all.

http://mediadecoder.blogs.nytimes.com/2010/01/18/leno-deconstructs-his-own-predicament/?hp

It also makes it clear, again, that Conan's jabs at Leno - "you can do anything in America, as long as Jay doesn't want to do it also" - really appear self-serving, as well as incorrect. Jay didn't want any of this - he didn't want to be forced off the Tonight Show, didn't really want a prime time gig, and he's not telling NBC to move Conan out of the 11:30 slot. Conan has been less than truthful and unnecessarily snarky through all of this.