I saw it yesterday at the Berkeley Rep. I can certainly understand why it's not for everyone, but I found it an extraordinary theatrical experience, not because it was perfect but because the framing device allowed me to see (and hear) The Great Gatsby in a new way. One's enjoyment undoubtedly depends on what you think of the novel to begin with, though, interestingly, the play in a way points out some of its flaws.
It was worth seeing, as far as I was concerned, just to see and hear Scott Shepherd read almost the entire novel himself. He's such a perfect Nick, does clever voices for several other characters, and anchors the play. Although I had read he has memorized the entire thing, it's obvious anyway when's 'reading' the novel in the dark and later puts the book down entirely. It's hard to compare his performance to other actors' great performances, because he's asked to do something very different, but he carries the play and brings out the novel's humor very effectively. Even in a larger venue (The Roda Theater seats 600 people, and the orchestra section - where we sat towards the back - was full), the show feels quite intimate, especially in its quiet moments.
Some chapters work better than others. The raucous, unpleasant party in New York City early in the novel is a standout, and Luarena Allan - as Myrtle - is especially good. Chapter 5 (when Gatsby and Daisy meet at Nick's small home) didn't work for me, as it is played more for broad laughs. There's plenty of absurdity to be mined, of course, but there is also genuine tension that sets up the remainder of the story - and it gets a little lost in the exaggerated comic bits. On the other hand, the other Manhattan scene - the unpleasant, tense drive to New York City and showdown at a ritzy motel - is handled quite well. Robert M. Johanson, who is an excellent Tom throughout, is terrific in that scene.
There are inconsistencies in the performances that detracted from the show on occasion. Some actors are outstanding. Others are inconsistent. Usually, that doesn't really matter. But there are other times when I felt that a few actors were miscast or simply not at the level of others.
But the overall experience of the play was memorable. The framing device didn't matter all that much to me, although plenty of humor is mined from it along the way. Gradually, that all fades away. As much as anything, though, Gatz felt to me about entering the world of a novel, written by someone long ago, or far away, and becoming caught up in a story that is nothing like my own reality - but caring and empathizing nonetheless. That's the real magic of the play. That it's about The Great Gatsby, filled with funny and poetic lines even in F. Scott Fitzgerald's asides, makes it even better.