Yup, last year my high school did West Side Story and we had to wait a little while to make sure we could obtain the rights because we heard there might have been a revival too(we're blocked from doing any shows currently on Broadway). Then we heard the 2007 thing too, but also because they definitely wanted to have performers the appropriate age and didn't think that was possible at this point, so they were going to wait a couple of years. Here's hoping!
"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