I know what you mean. The thing that stood out to me on my most recent viewing is how relentless the narration is, and how disorienting the experience of watching the movie can be. The narration is so dense with information, and so much of that information is conveyed through its subtle nuances, that processing the narration makes it difficult to follow the images on the screen. I hear the movie more than I see it, which, as you say, seems to take me out of the action.
But I suppose that's necessary when you think about what the film is doing. If you can't get some distance from the violence and cruelty here, I'm not sure that it would be so easy to see the humor in Louis's actions and his understanding of those actions.
Of course, a lot of the narration is necessary to reveal what he's doing, why he's doing it, and why he thinks it's justified. In a way, the movie seems less interested in putting us in the action than it is in putting us in Louis's perspective on the action. And this, I think, is important to one of the darker points (and jokes) of the movie: it seems we're put in Louis's perspective to such an extent because his is the appropriate perspective from which to see and understand the story--not only because his plot is moving the story forward, but also because he sees the world more clearly than anyone else in the story. Only Louis seems to understands the people around him and why they do the things they do. He's evil, but he's right about almost everything. If we want to understand the world in which he lives, we need to go through Louis. It takes a violent sociopath to form a clear-eyed view of that world and the monsters who inhabit it.
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