Have to agree with WOSQ. ALL ABOUT EVE is, like CASABLANCA, a classic-classic. It's not that the story can't be borrowed, updated or revamped (it has been used in every soap opera on TV). But the Bette Davis-Margo Channing marriage of actor and role is unique in film. Just to see a still from the film is a reminder of the iconic nature of the character, as fully inhabited by Davis. Back in the 80s, I believe Jane Fonda wanted to remake it, too. She strikes me as temperamentally more appropriate than Streisand. But she let the option drop. I can only imagine any reading of a script that includes the classic lines. You can't "hear" it without hearing Davis.
As for APPLAUSE, it fashioned the material around the personality of BACALL, and the show never worked as well without her (though I saw Anne Baxter, who was fun and ironic, having played Eve in the film.)
If Streisand remakes it, I'd assume she'd be wise enough to start with only the roughtest outline of the premise. The idea of Streisand literally calling herself "Margo Channing" strikes me as fairly ludicrous. Maybe it'll be set in the music world, and it'll have a Madonna/Britney feel. But with Streisand at 60, the music would be pop, so the "eve" character would be some kind of anachronism.
The bigger issue here is: why remake? Just like the ongoing debate at this site about revivals and movies going to stage. Hollywood and Broadway are both afraid to try untested material. It's sad that so few people dare to invest in something brand new.
"I'm a comedian, but in my spare time, things bother me." Garry Shandling