Conan's Last Show

The late-night soap opera is finally over.

Conan O'Brien taped the last episode of his seven-month stint hosting The Tonight Show, as, behind the scenes, staffers were saying their goodbyes during commercial breaks. The show aired Friday night.

The crowd chanted his name at the onset and gave him numerous standing ovations. He implored them to sit down, pointing at his watch, saying: "We really have to go."

His final monologue began: "Ladies and gentleman, we have exactly one hour to steal every single item in this studio."

"We didn't rehearse today, because we didn't care. We've all been drinking."

"The terms of my settlement say that I can't host another show for seven months. So next week look forward to the "Andy Richter Show" with his sidekick, me!"

Since the turmoil started two weeks ago – when he said in a statement he wouldn't host the show if it was moved back to 12:05 a.m. to make way for a reinstated Jay Leno at 11:35 – O'Brien has mercilessly made fun of NBC and its executives. But on the show Friday he acknowledged his time at the network.

The final show's guests included Tom Hanks, musician Neil Young and actor Will Ferrell, who was O'Brien's guest on his inaugural Tonight Show episode.

Ferrell sang and O'Brien played guitar to Lynyrd Skynrd's "Free Bird" to end the show. Steve Carrell (The Office) was a surprise guest and conducted a mock exit interview with the host.

While O'Brien is losing his dream job and is walking away with a $32.5 million personal settlement, in some ways he's benefited a great deal from the late-night controversy. His ratings have soared and he's an even hotter commodity as he decides where he's going to make his next move. He reportedly has suitors including MTV, TNT and Fox.

Reports say the epic Irish Wake style after party was something to behold. Will Ferrell and "30 Rock" funnyman Jack McBrayer joined the departing staff for the bash, posing for photos and taking in an acoustic guitar performance Conan gave the studio audience after cameras stopped rolling.

O'Brien thanked the bleachers for "being the best audience in the world," and also for camping out in the rain that plagued L.A. on Friday.

Steve Carrell made a surprise appearance during taping, and guest Tom Hanks called the host's run a "noble experiment."

"In our house, you will always be the host of 'The Tonight Show,'" Hanks imparted to O'Brien.

I always preferred Conan over Leno or Letterman, and I hope he gets his own show by the end of the year, I look forward to seeing it.

Jay Leno will be reinstalled as the host of The Tonight Show on March 1.