He does have a point about Islam being hijacked, and no one is railing against it in the islamic world. Also he has a point about no Islamic outrage when they do terrible things.
When it comes to the question of can Islam adapt itself to the modern world, the answer is appearently no.
EDIT: Although I thought that he could have been a bit more diplomatic with his points......
And since when is it an intrinsically good and correct thing for Islam, or any culture for that matter, to adapt itself to circumstances it had no hand in crafting? There is a diiference, in my mind, between what Muslims do to others and what they do to themselves. I'm of the opinion that each group, be it religious, cultural, nation, ethnic, whatever, should be left to itself so long as it doesn't harm others. When Muslims fly planes into buildings, that's unacceptable. When they torch an embassy or riot in Paris, that's unacceptable. But if they apply Sharia law in their own countries, if they choose such-and-such a system of education, if they elect people who we may dislike or disagree with, that's perfectly OK by me, as long as they do it only to themselves.
Same thing with America. Building a global empire of military garrisons, attacking other nations and dictating to them on matters of policy is a terrible thing. But what America chooses to do to itself, it's domestic policy - well, I may disagree with it, but it's none of my business. If they want to raise a big statue of Jesus over the White House, fine by me.