Sefer HaSichos 5752 vol. 2 page 465 ff. a two part overview (semi-text based) on this remarkable Sicha.
Class One. A) Two levels: every shul is a מקדש מעט, but there is one that represents the Beis Hamikdash ממש which is called בית רבינו שבבל. B) This shul is special as it is the place of ד’ אמות של הלכה and therefore the שכינה is there especially. C) This uniqueness will continue when Moshiach comes and all Shuls (and sparks of holiness) will permanently move to ארץ ישראל, and they will all be attached to the greater בית המקדש through the intervention and intermediary of the בית רבינו שול of their generation. D) This uniqueness begins at the moment of the Geula, when the שכינה which has been in גלות with us, is redeemed in the last spot it is on at the moment of the גאולה. Similarly, the בית המקדש השלישי which will come from heaven will begin in the last בית רבינו and rise from there to ירושלים. This explains the extra word in the רמב”ם הלכות מלכים בונה בית המקדש במקומו. E) The real truth is that the beginning of all בתי מקדש is the gathering of all the Jews there. In בית רבינו all Yidden are present because 1) הנשיא הוא הכל, and 2) because it is תל תלפיות- תל שכל הפיות פונים לשם. This explains בית רבינו שבבל more completely. It is about Yidden. F) Rabbeinu is also very likely the Moshiach of the generation and as such, it is always the (potential) seat of Geula.
