Benedick means Claudio's speech is unnecessarily elaborate and extravagant.
Claudio's new way of speaking being described as a 'fantastical banquet' by Benedick means that it is unnecessarily elaborate. It implies that Claudio's speech is extravagant and overly embellished, like a banquet with many elaborate and unnecessary dishes, conveying that it is showy and not straightforward or to the point.
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