Oh yes thank you Michelle. And wow. Am I excited about discovering this.
I slowly realized while listening to my mp3 track in slow mode that there is dialogue mixed in with the laughing of the canned laughter track. No kidding.
Even though some of it is still unlegible since they speak really really quickly to begin with still I have carefully listened to it through my headphones and worked it out as best I can.
I thought when the first piggy fell you could hear "The last one. He's falling off the mountain." though now I'm not so sure anymore. I can't tell whether the first bit I hear at the same time as the sound effects of him striking the bottom really are the words "The last one." or just simple Haaa-ha-ha!
And the second bit no longer sounds like the sentence I assumed it was. It seems to be just two words of a single syllable each. I am 90% positive now that they are "Oink. Oink."
Even though I would have preferred it to be what I originally thought still it is kinda cute.
I know during the Watch your step part you can hear "Hear what he said?"
There's also someone else saying something that seems like "That'll do it." but I cannot tell. He does seem to be saying "Watch your step" while simultaneously laughing about it however.