That is correct SFFRONTROW...REPRISE in L.A. is similar to it, but uses mores set pieces and stuff than 42nd street does. I doubt anything will come of it, cause after all this is what they do. They take old musicals like you said and bring them back to life in more of a concert style. You can think of this as Encores in a way (for NYC). But most shows there (42nd) don't get looked at for a transfer.
42nd use to do their own recordings as well and they have stopped that too.
So, yeah SFFRONTROW is right, don't get your hopes up, this is just another show that is part of their wonderful season. And Ms. Marcovicci is many of the stars that have gone through there in the last few years; Lea Delaria,Maurren McVerry,Meg Mackay, Leslie Hamilton,Klea Blachurst and many others...
"In the U.S.A.
You can have your say,
You can set you goals
And seize the day,
You've been given the freedom
To work your way
To the head of the line-
To the head of the line!"
---Stephen Sondheim