Boy, would I not want to be the dresser for Dr. Lao if they DID do a musical version of the show. You'd never have a moment's peace!
I adore the Leigh Harline theme for that movie, so Jerry Herman probably could do a bang-up score for it, I'd miss that theme very much.
Of course, Bob Merrill did a great new theme for LILI when he wrote CARNIVAL!, and I think each of them is individually wonderful, and both fit the story so beautifully.