Hmm. Run-through.
-Open with Steve and Marten at the bar, where they meet Faye.
-Faye visits Marten's apartment a few days later, meets Pintsize.
-Marten's everyday life - cameos by Scott and Jimbo.
-Faye moves in.
-Dora and Coffee of Doom are introduced, Raven makes a cameo. (No Sarah.)
-The dildo scene. (Without the changing, so Dora needs a new excuse.)
-Dora talks to Mieville until Faye and Marten gothnap her.
-This night is where Jimbo changes careers.
-Amanda visits.
-Steve meets Ellen.
-The haircut.
-The double date.
-Raven is hired.
-Ellen's birthday. Cameo by Natasha, per obligation pointing out the Mass. age of consent.
-Sven visits.
-Steve and Ellen are introduced to Amir.
-Marten and Faye move.
-Veronica Vance visits.
-First breakup of Steve and Ellen.
-The Talk.
-Hannelore's introduction.
-Formation of Deathmřle.
-The kiss.
-Faye goes to Georgia.
-Marten is fired.
-Dr. Corrine's introduction.
-Marten starts working with Tai.
-The coffee shop gets popular, leading to the appearance of Angus; Pen-Pen materializes out of thin air.
-Steve and Ellen break up for real, leading to a scene with Haruk...ah, the Vespavenger. (No Morgue Girl subplot.) Marten gets to wear the princess top for this entire scene, because I said so.
-Tai meets Jimbo, while Marten has to cover for Sven.
-Sven waylays Faye.
-Coffeeshop shenanigan filler.
-Marten gets a haircut, and Dora gets neurotic.
-Hannelore's mother visits.
-Marten visits Dora's parents.
-Deathmřle plays at Smith (hey, I had to give some kind of resolution there).
-Hannelore's birthday.
-Dora freaks out.
-Long talk between Faye and Dr. Corrine.
-Dora and Marten make up.
-Godfather parody.
There. Appropriate pacing, not too much lost in translation, and it clocks in at just under four hours.
Of course, the dialogue would have to be completely rewritten to flow better in real-time and to pin down the music jokes to whennever the film were released, as opposed to "the floating now."