Maybe my title is mean: this is certainly not a bad recording of this wonderful show, it's just ... tidy.
Case in point: "By My Side". Any admirer of "Godspell" knows how haunting this can be. In this recording, unfortunately, the singers have decided that the music and lyrics are too under-stated: they overwhelm the song with that awful fake emotion that is rife on shows like the international "Idol" talent contests and "Glee". You know, never be content with one note when a syllable can be drawn out to allow three, make sure the audience knows they are supposed to be moved by adopting a caricature of sadness in your voice.
I could go on, but no recording of "Godspell" leaves me in an overly nasty mood, and there are certainly good things here. The new arrangement of "All Good Things" is the best I've heard, "Learn Your Lessons" and "All for the Best" are as exuberant and cheeky as they should be, and the new lyrics of "Beautiful City" make moving and tasteful reference to the terrorist attacks on New York without interrupting the flow.
If, like me, you have a few recordings of this show, then this one is certainly a worthy addition to your collection. For what it's worth, I think that on CD the film soundtrack Godspell: Original Motion Picture Soundtrack (now available here: Godspell: 40th Anniversary Celebration is the best of the lot.