The many of the Muslims had seen the Treaty of Hudaybiyya as a humiliating loss, yet Prophet Muhammad knew the treaty paved the way for their ultimate success.
This lecture discusses the various ways this treaty helped the Muslims, along with how Allah sent Surah Al-Fath right afterwards to bolden the Muslims and help them understand the victory which had just been won.

Lecture notes available at http://www.why-quran.org/?p=620.

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Video recording of this lecture + Q&A available on YouTube at https://www.youtube.com/watch?v=ysbzCY4_cdc&list=PLpkB0iwLgfTat-Pgh4W3WFmupPamiC9UT.