I guess part of it depends also on how much they end up cutting. I think there are enough characters that they could do two performances of 3-and-a-half hours each on the same day without it being too much for the actors.
I'd be willing to bet good money that the revised show will NOT be more than three hours in length, because that would require overtime pay for each performance and would therefore not be economically viable. Aside from the attention span issue.