None of us has talked about William and Sacharissa yet, although they are surely at least part of the main focus of the story. I find William an interesting character--one who grows and develops in the course of the novel. He has struggled (just as Otto does) to throw off his "nature" as it was instilled in him by his father. But, as Otto's picture shows--for most of the book, he has his father looking over his shoulder. That is, he is reacting, I think, in part because he knows his father would disapprove of his being in business. Worse yet--he's associating with all sort of species and treating them (or trying to) as equals or, in some cases, employees.
I think that his growth into a complete individual comes only when he realizes that his father is not perfect, not even all that bright. Lord de Worde sees only what he wants to see--and justifies his actions with "I had the best interests of the city at heart, you know." And William rightly rejects this justification which has used by every privileged class (nobility, powerful "captains of industry" politicians, governments, etc.).
William dramatically tries to buy himself free (like a dwarf), but his actions would have failed but for the arrival of Otto. His father has "henchmen" who take care of the dirty work so his hands are clean., and William would have simply "disappeared." But William's actions have commanded the loyalty of his employees Otto, who has recognized the very real danger William has unknowingly put himself in, rescues him by disposing of his father's henchmen and then completely vanquishes Lord de Worde by upholding William's opinion of him. He merely plants a kiss on the brow, not a bite on the neck.
To some extent, William becomes his father. He is no longer hesitant about using his considerable understanding and knowledge of the working of government and the power of the press. But he has a completely different philosophy of what his responsibilities are--to find and print the truth.
Terry leaves unanswered the question of what is the difference between The Truth and Journalism. It only has to be true til tomorrow for journalism--and that brings William and Sacharissa together. One assumes that they marry (from Going Postal).
It seems to me that Terry has, in this book (and those that follow) gained better control of comic satire, even though he has some holes in his plot structure. For example, Goodmountain and Borrodony want to get married, and they've been working to get enough money to buy each other, so they can return home and start a mine together. But, at the end, the dwarfs, the vampire, the troll and the humans seem to be a continuing part of the Ankh-Morpork Times.