The EMI re-creation of the original 1934 version has wonderful orchestartions, but since no one does the show using that script and score if you are looking for a recording that documents the production you have seen or done this isn't for you. Also some of the singers are too much voice (Von Stade) or too little (Gilford).
Epic's 1962 cast documents the revised version done off-Broadway and the standard performing edition in use for community theatres. It sounds very thin, however, and the singers are shrill.
The 1987 (October 19, 1987 it opened) Patti LuPone version is another revision and has a full Broadway-style orchestration. If you can't take Patti LuPone the exact same program was recorded in London with Elaine Paige. I enjoy both of these vesrions.
The recent London revival with John Barrowman is essentially the 1987 version.
Avoid the DRG/studio cast version with Mary Martin, it's deadly dull. The film soundtrack with Bing Crosby (on Decca) has nothing to do with the stage show except for 5 of its 9 songs.
Cast albums are NOT "soundtracks."
Live theatre does not use a "soundtrack." If it did, it wouldn't be live theatre!
I host a weekly one-hour radio program featuring cast album selections as well as songs by cabaret, jazz and theatre artists. The program, FRONT ROW CENTRE is heard Sundays 9 to 10 am and also Saturdays from 8 to 9 am (eastern times) on www.proudfm.com