I love plays. I used to be in them, as well. I love a good musical, too, but I don't necessarily like listening to showtunes for their own sake anymore. I also enjoy movie musicals. Live theatre is exciting and more immediate, and you really get to appreciate the level of talent that some people are blessed with.
My main problem with theatre is that it's too expensive. It becomes an elitist thing, where it should be accessible to all.
As a footnote, my friend's obssession with Wicked is enough to turn me off musicals forever. :-P