I laughed. I cried. I got the urge to toss Bill XXXIII to a bunch of tigers (OK, that's
this video)... There's a section with some inside jokes for alumni but it doesn't detract from the hilarity even if you don't know what a few of the things mentioned are.
Warning: Harsh language and tasteless humor included. Small, impressionable children and squids, consider yourself forewarned.
http://www.youtube.com/watch?v=JEMALLLy9D8