I saw both productions.
The Jessica Lange version is the worst big name production of anything I have seen on Broadway. It was just misguided from the start when this mother of a poor household enters in a new tailored suit and freshly marcelled hair that they in no way can afford. This happened maybe two minutes in and lost me right there. It really didn't get better. The Gentleman Caller (Josh Lucas?) was the only actor of the four to make it out alive. The direction and concept were just flat out wrong.
The Cherry Jones production was the polar opposite. This is one for the books and will be studied and talked about for years. It was like a new play (and I stage managed the play in the 70s; I know the script). For the first time I felt the three Wingfields were a family. A dysfunctional family to be sure, but a family nonetheless.I hate to use the word 'brilliant' to describe productions that are merely excellent.. However in this case, it was brilliant.
Tom is now thought by most scholars to be gay (and a Williams stand-in). The Gentleman Caller is probably straight, but Tom could be played as to have a crush on him. As said above, Tom wouldn't bring home a gay man for Laura nor does Tom know he is engaged. Jim is just the only remotely eligible man Tom knows.