Can I propose something crazy? Not doing the show backwards, but slightly rearranged?
Here's the order as I see it:
overture
the hills of tomorrow/ graduation speech
merrily we roll along
(then we flashback to the 1950s and watch the characters go from just starting in the business to frank's divorce)
opening doors
bobby and Jackie and jack
(some scene between Frank and Beth showing their booming relationship)
not a day goes by
The blob/ good thing going
Gussie's good thing going/ it's a hit
(some scene between Gussie and Frank where she makes her move on opening night and Beth catches Frank in a compromising position)/ Growing Up
not a day goes by reprise
Now you know
- intermission -
(we then flash forward to the present day, just before the graduation)
that frank/ rich and happy (call me crazy but I like these two songs together: one showing what frank's become and the other showng what he could have been. Plus by fast forwarding in the middle, after growing with the characters you get all these questions: how did Frank end up with Gussie? When did mary become a lush, where is charlie? It sets up the rest of the act):
Old Friends
growing up
like it was
franklin Shepard inc
(we're now present day in a somewhat nowhere space. I thought this would be a great place for a scene between a grown up Frank jr and Frank. Which then leads into flashing back to:)
our time (also, I love the encores version of the scene before this with the three meeting for the first time... Just had to get that out there.)
We then flash back to the present: the graduation (which I always thought was Frank jr's class). As Frank finishes his speech, and the chorus sings the hills of tomorrow, we'd see Frank on the roof where it all began, as mary and charlie appear from the shadows.
Yes, the device of a show going completely backwards is lost. But in my opinion it's a device which alienates more than it helps. Plus, in its place we get the chance to see the characters grow instead of recede, we still answer the question of what happened to screw everything up, and by jumping back and forth a bit in the second half, we still get our time as a finale and that Frank as something of an opening. We see the promise they had vs. what they became. And honestly, isn't that the point?
I know no one woule ever sign off on this as a version (I dub it roll along we merrily), but in the space of my imagination, its a great solution to a troubled show.