It's definitely the wrong direction. He has a lot of comedic talent and he's a vulgar stand up comedian with a following. He should make a push for comedy films or making comedy skits. He is so much better suited to that format.
It's not just the length. It has almost nothing to do with the radio Chip Chipperson character. The whole point is he's a dumb deluded wigger who thinks he's hilarious completely missing the point of jokes. This is just him doing the voice for Ren & Stimpy meets Clerks as written by a frat boy.
I can't think of a single scripted Norton moment I've laughed at. He's much better off the cuff on the radio than any of his stand up routines.