There was some discussion about whether this actually constituted a filibuster under Senate rules, but at least he actually got up and spoke nonstop (lately, often just the casual threat of a filibuster was enough to kill a bill), and it will have the effect of bringing attention to the spying bill.
Paul began by saying:
There comes a time in the history of nations when fear and complacency allow power to accumulate and liberty and privacy to suffer. That time is now, and I will not let the Patriot Act, the most unpatriotic of acts, go unchallenged.
Even if he is just grandstanding to gain attention as a presidential candidate, I applaud his efforts. It is time to reign in the spying abuse.