I definitely loved Gary Owens as the narrator, though I've never seen Laugh in. The inclusion of the 'smell' and 'taste' "verbs" for no other reason than for laughs was also great.
Owens was familiar to those too young for Laugh-In through his other voice work, including playing Hanna-Barbera superheroes like Space Ghost and Blue Falcon, and Powdered Toast Man from the Ren & Stimpy series (in all appearances but his first). For Xers, hearing his voice in SQIV was a real "hey, it's that guy with that voice!" moment. His distinctive voice and wit made him the perfect adventure game narrator.