I just watched this with my niece, and thought that it was super cool. You should be able to find what I'm talking about since they'll be posting the video at some point tonight. Some of it was embarrassingly bad (fake russian accent from MC Hammer's interviewer), but some was really neat.
To me, the highlight was Joe Satriani playing with funtwo. They both seemed genuinely happy to be there, and while it had to be super cool for the kid to play with Satriani, Joe kinda took the back seat and let him shine. And funtwo took the hat off. Freddie Wong should have broken that GHWT guitar at the end of his lead-in to their performance, but he was entertaining too.
Here's the video from the event: Satriani & funtwo
I like a world where everyone has a TV station so there's no barrier to entry. Screw network television, and go YouTube.