I recently re-watched this film after not having seen it since its original airing in 1993. It was nice to revisit it again, and I really enjoyed it. Overall good work by Bette Midler as the overbearing stage mother, and a stunning transformation by Cynthia Gibb who goes from tomboy to burlesque stripper in the title role. The film has dazzling costumes designed by Bob Mackie. The musical numbers were all memorable, even though I typically dislike musical films.
The only thing I would say is a bit disappointing about the whole Gypsy story is that it focuses on Gypsy's stage mother more than on Gypsy herself. But this is nonetheless a really good film.
I saw this when it first ran in December of 1993. Great performance by Bette; when she sings "Rose's Turn," at the end, it's mesmerizing. I was less entranced by Cynthia Gibb, whom I knew mostly from The Karen Carpenter Story. Gypsy really isn't about Gypsy Rose Lee as much as it is about her overbearing stage mother. Have you seen the Natalie Wood version? I like the strippers number best from that one--Miss Mazepa has to be seen to be believed!