2 What to say
You should usually see your talk primarily as a ``taster'' for your work, rather than as an in-depth treatment. So two very useful questions to ask are these:
Who is my primary audience?
If someone remembers only one thing from my talk, what would I like it to be?.
If you have the answer to these questions pinned down, you can use them as criteria when deciding what to say and what to omit. And don't forget to tell the audience the answer to the second question!
2.1 Using examples
Most of us do research by trying to solve a bunch of related problems, finding some suitable framework in which to solve them, and then generalising and abstracting our solution. For example, if the problem is to find out whether a function evaluates its argument, then a suitable framework might be denotational semantics, and a generalisation might be abstract interpretation.
The Awful Trap is to present only the framework and the abstraction, leaving out the motivating examples which you used to guide your work. Many talks are far too abstract. They present slide upon slide of impressive-looking squiggles, but leave the audience none the wiser.
It is utterly vital to present examples which demonstrate the points you are trying to make. When you give a definition of a property, or a mathematical structure, or some new notation, give examples to show what the definition captures. When you give a theorem, give examples to show what it means in practice.
Of course in a written paper you must be careful to fill in the details, and state precisely what is going on (though a good paper has plenty of motivating examples too). With any luck, your talk will persuade your listeners to read your paper, but a talk is the wrong medium in which to demonstrate your mathematical virtuosity.
The need to motivate and illustrate your talk with examples is probably the most important single point in this paper, because so many talks fail to do so. Ask yourself again and again: "Have I illustrated this idea/theorem/definition/technique/algorithm with an example?".
2.2 Pruning: saying enough without saying too much
The tension is this: you need to say enough to convey the essential content of your idea, but you must not overwhelm your audience with too much material.
The best way out of this dilemma is to adopt a non-uniform approach to your talk; that is, treat some aspects in more detail than others. It may be painful not to talk about the other parts, but it is better than only giving a superficial treatment to everything, or over-running your time.
Given that there are bound to be people in your audience who don't know the area at all, some overall introduction/motivation is usually essential. But do avoid the temptation of spending five or ten minutes on rambling introductory remarks. Sometimes, for example, people start with a slide listing prior work on the subject of the talk, or with an abstract description of what the talk is about.
Don't waste time on this --- instead jump straight in with an example which demonstrates the problem you are addressing. Remember: if you bore your audience in the first few minutes you may never get them back.
2.3 Telling it how it is
Avoid the temptation to conceal problems you know about in your work. Not only is it dishonest: it is also ineffective. A bright audience will find you out.
Furthermore, if you are open about the difficulties, you may find that someone makes a suggestion which turns out to be just what you need. Get your audience to help you do your research!