Honestly, the first paragraph was one of my favorites. Vito explains very fervently how strongly he feels against the mass production of something that was originally reserved for special locations and occasions. I can sympathize, having time on hand has not only become the standard but it has also become the rule. If you're late for work there are less and less excuses for not showing up on time. Everyone in modern society has easy access to even the cheapest of time keeping technology. It used to be the case that you were expected to remain on top of your time but now it is required.
Along the same lines the way time as a construct affects us has changed. Before technology, man depended on the sun and the moon and the seasons to give him a sense of where he was in his life. Around the globe people experienced seasons at different times, the sun at different angles and the moon was the closest thing one had to a calendar. The inclusion of time keeping technology into our society has forced everyone to sync up to very artificial constructs of time. Your life and your schedule are mandated by society. We are constantly forced to work longer and more and harder because the pace of our culture is based on the idea of progress not present.
I sympathize with Vito in many ways and yet I've never experienced a life where this was not the case. To me it simply feels like the way life is. One thing I'm not sure if he is trying to emphasize is whether time used to be a novelty and like many things mainstream it has become mundane? I think that knowing time has always fascinated people and the advances in time keeping technology allow people to stretch out and discover this construct in new and exciting ways. For example, the experience of a fun moment fleeting by in what feels like seconds when actually it has been hours or the opposite when a boring situation drags on for what feels like eternity. People enjoy having time on hand even though it may be affecting us in just many negative ways as positive.