Remember, Remember the 5th of November

Does that line ring a bell?

If you're English it does.

Remember, remember the fifth of November,
The gunpowder, treason and plot,
I know of no reason why the gundpowder treason
Should ever be forgot.

If you're a fan of the movies, you've seen V for Vendetta, which is loosely based on Guy Fawkes, the lead character in the Gunpowder Treason.

For those of us on the left side of the pond who've never heard of Guy nor given him nary a thought if we have, Guy Fawkes Day is the celebration of the foiling of a plot that was meant to destroy parliament, murder King James I, and end the reign of Protestantism as the church of state in Great Britain (November 5, 1605) and the execution of Fawkes for treason (January 6, 1606.) Despite no FBI, CIA, NSA, MI5, or MI6, the plot was discovered and stopped before anyone was severely hurt.

That known and said, though, I'm sure I'm missing the depth and real (read: nationalistic) meaning of this day. So tell me, Anglophiles and cousin Brits, what is the purpose of Guy Fawkes Day and is it considered an excuse to party and blow off fireworks or is it a demonstration of patriotism?

Regardless, Happy Guy Fawkes Day!