"I think Follies has a cult following not because it's so phenomenal, but because, of all of Sondheim's shows, it has the most potential to be phenomenal. But it never is. It's a brilliant notion, with brilliant ideas and moments that was just never put together in quite the right way to make it as satisfying as you want it to be...and know it could have been.
Sondheim should have spent less time futzing with those Misner boys and put a little effort into a reworking of this."
I agree with that--at least I feel Follies is a flawed masterpiece, and that will always be part of its allure, but (while I do kinda feel that he spent SO long on Wise Guys/Bounce/Road Show, despite the fact that I've finally started to like Road Show best), I don't agree with your last statement.
He's always been game to work with collaborators on changing Follies, but I feel he thinks he's done the best he can with it and frankly I'm someone who still thinks the original script (even compared to the current one which largely harkens back to it) is still the best, and let's just leave it there. Certainly, I get the feeling Sondheim doesn't feel there's more he can do with it.
And I've ALWAYS loved "One More Kiss" (not so keen on on One Last Kiss from Birdie

) . I'm glad Sondheim insisted they record it for the first cast album even if it didn't fit on the LP release. To me it kinda sums up the show--but I guess even as a kid I did love the operetta style it pastiches. Frankly it's SO short anyway, that I don't think coming 90 or so minutes into the show is too late in the evening for it...