I'm guessing you'd miss the significance of the fact that the one guy was Rassilon, big chief Time Lord boy. IIRC, Rassilon pretty much created the Time Lords. Before that, they were just ordinary Gallifreyans.
All I know is, I wasn't sure who the narrator was in the first part, but as soon as that final scene at the end began and they rotated around him and finally the 'Time Lords in funny hats' came into view behind... I smacked the arms of my chair and hollered, "WHAT?!?! OH MY GOSH!" My brother was so confused.