I'm pleased to say that thanks to fair and consistent application of the timekeeping and the bids'/cons' restraint, we actually managed to get through everything in about 75-80 minutes.
L.A.con IV made a short presentation at the beginning of the Inquisition, where they presented the "traditional donation" to the WSFS Mark Protection Committee, as well as initial Pass-Along Funds donations (there may be more later) to the 2007 and 2008 Worldcons (they are holding it in trust for the 2009 Worldcon): $25,000 each! Good for them!
I don't have my notes with me right now, so I don't have a lot to say about what the cons and bids had to say. Nippon 2007 and Denvention Three discussed their respective conventions' current issues, most of which have to do with hotels for different reasons. The Kansas City and Montreal bids made presentations and took questions. One of the few uncomfortable moments was when Priscilla Olson addressed "the elephant in the room," pointing out that this Kansas City SMOFCon has been rather haphazardly organized, its facilities are not well-used, and why should we trust Kansas City to hold a Worldcon if they can't organize a SMOFCon. Although I fear nothing meaningful came out of the specific exchange, I applaud people being willing to ask "hard questions" of bids. As Vince pointed out, the SMOFCon Inquisition sessions are a major opportunity to exercise "fannish due diligence" about bids and cons.
In one sense, though, all questions were uncomfortable because the room was incredibly hot. We had people attempting to open the window, with the outside temperatures below freezing, in order to try and reduce the stifling heat. Maybe that was another reason we finished on time -- people wanted to get out of there.
Edit, 6 Dec 7:45: Fixed spelling mistake