Jerry comes out to a huge ovation. He looks at the audience and says: "This is something. You do this every day?"
The audience constantly over-applauds. Oprah notes that she and Jerry are the same age (50), and the audience goes wild.
Jerry's response is perfect: "I love being 50. It means I'm almost done." Oprah goes into no! no! mode and Jerry has to say "it's just a joke" and a few other things until he finally lands on "it doesn't matter how old you are," and the audience goes wild again.
Oprah asks why they've only released the first three seasons on DVD, and Jerry says, "That's 40 episodes. How much time do you have?" There's a very distinctively Seinfeld way to say "How much time do you have?" and you've got to imagine it to find it funny. It's impossible to render in type. Something like: "How … much time … do you … have?"
Oprah asks him what he finds funny on TV today, and he says he watches a lot of "Sesame Street," and he thinks about how people tell him he should do another show: "I sit there and I watch this Elmo guy. And he is so likeable and so funny and so charming. And I sit there with my daughter, and I think: let him bust his little red ass."
Jerry's wife is there (and moved to tears by the experience of being 20 feet away from Oprah), so the conversation turns to marriage. Jerry says he was surprised at all the questions. He thought "Do you take this woman?" would be the last one. But now it's "How long are you going to sit there watching TV?": "I wish I knew the answer to that one myself."
Jerry's wife tells us he's "sweet," but can't come up with much of an answer to Oprah's request for a story. He's nice to his kids.
Oprah asks him about his obsessions: dolphins (they have "nice smiles"), Bic pens ("Every joke for the Seinfeld show was written with a Bic pen"), sneakers ("I'm wearing shoes just for you.")
The Puffy Shirt is being put in the Smithsonian, we're told.
Seinfeld's wife says has not seen all the episodes of "Seinfeld."
Oprah brings out Jason Alexander. The crowd acts pretty thrilled, even though it's just Jason Alexander.
Oprah brings out Julia Louis-Dreyfus. Clearly, the audience (nearly all women) likes her more than Jason. She looks great, Oprah tells her. Truthfully! Oprah shows Julia a clip of several audience members imitating Elaine's little steps dance [added: technically, it's "The Little Kicks."]. Julia says "wow" but doesn't seem that enthused. She seems not to be so much like the people in the audience, even though they identify with Elaine. Jerry helps out with a joke: "It's really true that girls just wanna have fun."
Oprah brings out Michael Richards. His hair is slicked down. He describes looking for "little things" in the script, ad libbing "the sound effects," practicing lines off by himself, and feeling that Kramer was playing him and that what he needed to do was to "get out of the way."
We're told Jerry bought Billy Joel's house in the Hamptons and we're shown some photos of him and his wife and kids on a windswept beach and in a sparkling, white kitchen. The audience goes "aaah!"
Talking about the last "Seinfeld" show, Jason Alexander says that, as they were about to shoot, Jerry said to them, "For the rest of our lives, when anyone thinks of any one of us, they'll think of all four." The audience goes "awwww." Oprah goes, "That is sweet." When the show ended, Jerry took some parts of the set (which he keeps with his Porsches). He took the door, the couch, and one of the booths from the restaurant. Michael Richards and Jason Alexander just took their shoes and (Alexander only) his glasses. Julia Louis-Dreyfus took her wardrobe, and jokes that she doesn't know why. (On the DVD commentary, she often talks about how bad Elaine's clothes were, and also how bad Jerry's clothes were. George's clothes were always intended to look bad. Kramer's clothes were supposed to be strange, and it's noted in the DVD commentary that only Kramer's clothes look good now. That vintage look aged well.)
After the final commercial break, there's only time enough to push the DVD one more time and say good-bye, but Oprah whips the crowd back up into a hysterical, jubilant cheer. As the closing credits roll, Oprah hugs each of the "Seinfeld" castmembers, kicking one leg up when she hugs Jerry and again when she hugs Michael Richards.
UPDATE: The group continues, more casually, on "Oprah After the Show." Oprah talks about how Jerry and his wife invited her to dinner but she had to refuse because she's on a diet that has a rule against eating after 7:30 at night.
We're shown photos of Julia Louis-Dreyfus's house, which has a retractable roof is dedicated to ecological principles. "It has sustainable woods" causes Jerry to say "What does that mean?" The question isn't answered. It's a joke. The tile, we're told, is made from recycled carpet. "It is a totally green house," Louis-Dreyfus says. Much applause.
Jerry offers this piece of advice: "If you never make a career choice based on money, you'll always have money." Hey, it worked for him!
Oprah asks what's your favorite episode. Jerry: "The Marine Biologist." Jason: "The Parking Garage." Michael: "The Parking Garage." Julia: wasn't asked.
They talk about Jerry's favorite comedian, Bill Cosby. When he walks down the street, Jerry says, he's happy to meet everyone who comes up to him. Oprah tells us that when he appeared on her show, he was dropped off alone! She clearly thinks this is flat-out amazing.
What comedian does Michael Richards love? Charlie Chaplin, Stan Laurel, Jacques Tati, the early Peter Sellers. Good answer! So good it almost makes me cry to think that more roles have not come Richards' way. He adds: "And I love the great Red Skelton." Ah! I loved Red Skelton so much when I was a child. I loved him in that deep, childlike way where you completely believe that everyone loves him.
Julia Louis-Dreyfus? "I think Ellen DeGeneres is unbelievably funny." She also loves the funny actresses, specifically, Mary Tyler Moore and Lucy.
Jason? Jon Stewart. And Jerry.