@Get the rope Macaulay!
Old stand-up comedy, at least in Britain, was pretty rapid fire. The old entertainers were all gag men. The story telling and 'have you noticed' stuff came much later, probably in the 80s. I've never liked listening to people take 5 minutes to get to a punchline.
I did a bit stand-up myself a few years ago and I made it my art to get to the punchline in as few words as possible. I was usually the most well-received performer on any given night, if for no other reason than very few people do rapid fire gags in comedy clubs. It was always a welcome change of pace for the audience. Ultimately though, once you exceed 10 minutes, one-liners tend to get a bit tedious. Stand-up wasn't meant for 90 minute specials; it was meant for filling in 3 minutes at a time between acts at the variety show.
And one final thought. In the English speaking world, one-liner comedy (actual jokes) is almost exclusively a White/Jew man's game. In my opinion, it's a much more difficult craft than observational, angry-at-the-world or woman-talks-about-dating comedy.
I mean, observational comedy... what's all that about?