"Also, if you watch the film once, there are lots of things that you won't get because there are punch lines in the first act, the setup to which isn't until the second act"

This quote by Simon Pegg is describing the value of seeing a movie more than as soon as. He is suggesting that if you view a movie as soon as, you might miss out on a few of the jokes and laugh line because the setup for them may not be till the second act. This is since the setup for the jokes might not be until the second act, and if you only watch the film once, you may not understand the joke. Pegg is emphasizing the importance of enjoying a film several times in order to get the full experience. He is suggesting that if you watch a film multiple times, you will be able to pick up on the jokes and punch lines that you may have missed out on the first time. This quote is a reminder that watching a film more than once can be useful in order to get the complete experience.