So, here we go:

Let’s keep some things in perspective here

1) Leno was initially ousted from the tonight show 2 or 3 years ago when it was decreed that Conan would be moved up in 2009 to the tonight show.  This was to bring in a younger demographic to the show.  This isn’t speculation, this was widely reported fact.  Leno wasn’t a happy guy about this, but he towed the line.  (The upshot here is that Leno didn’t “give” the show to Conan, only to take it back)

2) To keep Leno from looking around to other networks, the Jay Leno show was conceived.  It was risky at best, but hey, I’m going to give NBC credit for trying something different as opposed to yet another “Law and Order” variant.

3) Conan’s show moving back to 12:35:  It’s not like he actually tapes the show at 11:35 at night and now he would be stuck taping it at 12:35 in the morning.  Cry me a f’ing river.  He tapes sometime around 5pm and goes home.  (Having said that, let me be clear, I think Conan is the funnier guy, but to be claimed he’s somehow getting screwed over is ludicrous.)

In summary:  Is this really important to anybody beyond Leno, Conan and their staff.  Not really.  Do I want to see how it turns out?  You betcha.  Kind of like the Apple Tablet, I want to see how it turns out