This is something I would like to see. I think Hayes could pull it off, if the play is well-written and the director puts just enough a rein on Hayes. Levant was a VERY complex man and I've always been fascinated by him.
If you are fascinated by Levant, I'd highly recommended it. I think you'll find much to enjoy in Hayes and the play. The play could use some tightening and needs a better final scene, but that may come.