GYPSY is just as entertaining now as it was when it premiered.
Musically it is not as adventurous a score as WSS (or later Sondheim works) but it is perfectly suited to the story and vaudeville setting.
Arthur Laurents' script is tight, and near-perfect in construction. His script for WSS is a case of a book in shorthand. Sondheim calls it one of the shortest books in musical theatre. With GYPSY the book is given equal time with the score.
I like both, a lot! But if given a choice, I would opt for GYPSY.
Cast albums are NOT "soundtracks."
Live theatre does not use a "soundtrack." If it did, it wouldn't be live theatre!
I host a weekly one-hour radio program featuring cast album selections as well as songs by cabaret, jazz and theatre artists. The program, FRONT ROW CENTRE is heard Sundays 9 to 10 am and also Saturdays from 8 to 9 am (eastern times) on www.proudfm.com