pmensky said: "I don’t think it’s a great musical, but I do think it’s a great score when performed with the original concept recording’s orchestrations. I find the OBC recording unlistenable. I did not see the Broadway production. I know the show has been through at least one, maybe two (?) revisions since its original run. I saw a production at a small professional theatre company around 2003, and thought the show was very boring. If that was a revised version, I imagine the original was worse.
It also debuted on Broadway at the same time as Phantom, it was the same season as Into the Woods, and just a year earlier Les Miz opened and was still a hot ticket. So, along with the mediocrity of the show itself, it had some other circumstances working against it.
I know the show has been performed in concert many times, and I think that’s the best way to enjoy it. I doubt producers would want to do a revival of a show that only ran a couple months the first time around."
Apart from the fact that, in London, it ran more than "a couple of months," and thus there is some warrant for a US revival (that would be true to the original production rather than the Broadway edition), I largely agree with you. Two new beautiful songs were written for Broadway, and are usually incorporated into the concert versions. I think you are right that the original recording is best and that the show works best as a concert piece.