Delivery, presentation, and timing are everything in great comedy. Without them, your jokes won't work, which means your audience won't laugh. But if you succeed in making great comedy, then you can repeat the joke and still make your audience laugh hard.

"Who's On First?", the Abbott & Costello skit from 1953 (and one that FIM parodied in Tanks for the Memories). is one such example. It's eight minutes of some fantastic comedy. If you haven't seen this skit, please watch it. If you have (and want to see it again), please re-watch it.