Hmm...I see where both sides are coming from in terms of whether it would be a good fit or not.
There are a lot of aspects of the show that are quite theatrical, and appeal to a kind of audience-interaction, not to mention all the breaking-the-fourth-wall moments.
Like the Bush line works as the whole audience screams and claps as it's said. It wouldn't work the same without that in the movie.
There's a lot of parts of the show like this. It's not so simple to "cut out" these things. If you just did that, the movie would be sorely lacking. You would have to replace the stage aspects with movie aspects. And that can be very difficult to do well, and would take a lot of work.
But there are certainly aspects of it that can fit well into a movie, enough so that if spaces aren't left by the absence of the stage humor, it could become an excellent movie.
But a good director and cast is absolutely essential. the movie's doomed with one weak actor.
"If there was a Mount Rushmore for Broadway scores, "West Side Story" would be front and center. It snaps, it crackles it pops! It surges with a roar, its energy and sheer life undiminished by the years" - NYPost reviewer Elisabeth Vincentelli