I've spent the last two weeks slicing and dicing the developer guide and all the directly related API documentation -- this one-page demo is better than the entire Angular tutorial. It also covers the most important 20% of the Developer Guide.
Based on my current understanding, I'd explain Angular in a different direction. Everyone starts with the binding, introduces a few inbuilt directives, then possibly writes a directive.
I'd start with the $digest() loop, then build out to the runtime loop generally, then explain how link()ing makes the $digest() loop possible via $watch().
There is an enormous amount of Angular that is damn near liable to cause you to scratch your head clear through to your grey matter unless you spend 15 minutes reading the $digest() source code and eyeballing the dev guide in a few places. The docs by themselves simply will not teach you how Angular works, which rather falls short of the purpose of having documentation.