Laughs per minute can no question be the measure of a comic.
What is a good rate? A laugh about every 10 secs says you're at that top of your game.
That's correct, 6 solid laughs per minute for every minute of your set.
Don't dismay, a good 4 laughs per minute is fine most times...but make them booming.
Now the question of 'storytelling' comics usually comes up.
No problem, all you have to do is to listen to a great storytelling humorist, they are usually very compelling speakers, possess outstanding voices, mimics and situations. Annnd they get laughs along the way to their big finish.
If you have the talent for this by all means go for it.
Now it could be said that all comics are storytellers, some just choose shorter stories.
So now you know about LPM's.