In his book The Happiest Corpse I've Ever Seen,
Ethan Mordden chooses it as one of the few interesting shows of the 1990's. It was not a disaster as you can probably tell from the OCR.
The main reason it closed so quickly is that producer Roger Berlind was also co-producer on THE LIFE. Both shows were struggling at the box office but THE LIFE won 2 Tonys and STEEL PIER got none. So he decided to put his promotional effort behind THE LIFE and pulled the plug on STEEL PIER.
It's a show I expect will be reworked and brought back at some point.
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