If you've been around the theatre even just a little, you know that actors act. During the process of blocking scenes, costume fittings, make-up trials, and rehearsals the actor and character become one for the run of the play.
On breaks or in coffee shops, the actors will lapse into their character in the wink of an eye. Even years later, upon meeting again, two actors may exchange a line or two from when they worked together.
When I write first person fiction, I get into the character in the same way an actor does. I begin to think like them, feel what they feel, and sometimes talk like them. Whether I am writing little Shasta's double negative dialogue or Mother Elizabeth's lines, for that moment, I'm in character. How else would the pinkie promise come up? I don't do pinkie promises in real life, never have. Besides, I'm the mom of three boys, we don't do that girly stuff. It all came from being in character.
When writing third person, the writer is an observer and tells the story as if Mr. Watson to the character's Homes.
The argument can be made either way as to which style battles telling over showing. The real key to whether the story is boring has less to do with the POV (point of view) than with the story and the writing. Most of the time, it is clear which POV to use for each book.
There ya go. That's my take on POV. I think first person present tense writing is like 3-D, surround sound, IMAX. If you want inside the mind and heart of the character, then read my books. Dare ya.