It's performed regionally all the time (I've read reviews of about three productions around the country in the past year or two -- one starring Anna Gasteyer and another starring Stephanie J Block). Papermill just did it with Leslie Kritzer a few years ago (there was brief talk of trying to move that production to Broadway, but it never got out of the talking stage). High schools and community theatres do it all it all the time.
The problem with a Broadway revival has always been that, in part, the shadow of Streisand still looms. It's an expensive show to mount (probably $10 million for Broadway) and you have to have a 20-something (or maybe early 30-something) actress who's Jewish (or at least looks it), has a gorgeous multi-octave voice (someone who can compete with Streisand's definitive renditions of that music), is a first-rate verbal and physical comedienne, AND also has something of a "name" (since few producers are will entrust such an expensive show to a total unknown). Not many names come to mind who have all the necessary qualities -- they're either too old, can't vocally handle the score, don't have the requisite comedic chops, look too gentile and/or are complete unknowns.
It'll probably come back one of these days, as soon as a first rate Fanny comes along.
"What a story........ everything but the bloodhounds snappin' at her rear end." -- Birdie
[http://margochanning.broadwayworld.com/]
"The Devil Be Hittin' Me" -- Whitney