There's NO way Arthur Laurents, Sondheim and the Robbins estate would have ever said yes to a reality show about WSS. Never (they're way too protective of it which is why there hasn't been a revival in 27 years).
When they let it come back (which hopefully be sooner rather than later -- perhaps after Jerry Mitchell finishes with LEGALLY BLONDE) it'll be in a first class Broadway production with the best Broadway triple threats they can get.
GREASE isn't a particularly demanding show and you don't really need top notch talent for it to work (which is why non-singers like Rosie O'Donnell could star in the last revival).
"What a story........ everything but the bloodhounds snappin' at her rear end." -- Birdie
[http://margochanning.broadwayworld.com/]
"The Devil Be Hittin' Me" -- Whitney