George and Ira Gershwin deserve a better book to display their wares than Peter Stone & Timothy Mayer's tissue-thin "My One and Only," a faux-'20s tuner concocted in 1983 as a Broadway showcase for Tommy Tune and Twiggy. Hampered by the Freud Playhouse's limited stage area, helmer Dan Mojica cannot muster the necessary production pizzazz to overcome the show's glaring inadequacies, despite star turns by Michael Gruber and Rachel York in the lead roles and a capable ensemble.

Set in 1927, the throwaway plot (mildly inspired by the '20s Fred and Adele Astaire showcase "Funny Face") revolves around the conflicting agendas of barnstorming pilot Billy Buck Chandler (Gruber). Determined to be the first to fly nonstop across the Atlantic, he is romantically waylaid by beautiful swimming star Edythe Herbert (York).

Complicating matters are Edythe's nefarious Russian manager, Prince Nikki (Richard Israel), and Billy's jealous airplane mechanic, Mickey (Vicki Lewis).

With its limp comedic subplots, the storyline is designed to showcase a collection of Gershwin classics culled from various shows. It would take a Busby Berkeleyesque extravaganza to make the creaky thematic segues viable, and this production is too small to pull it off. With music director-pianist Gerald Sternbach guiding an onstage 13-piece orchestra, production numbers such as "I Can't Be Bothered Now," "High Hat" and "In the Swim" are more reminiscent of a chorus warming up than of an ensemble in performance.

What does work is the pairing of Gruber and York, who transcend their mediocre surroundings with such Gershwin standards as "Boy Wanted"/"Soon," "He Loves and She Loves" and " 'S Wonderful."

In solo turns, Gruber offers an emotionally charged first-act closer in "Strike Up the Band," while York soulfully wends her way through the ballad "How Long Has This Been Going On."

In supporting roles, Israel is properly cartoonish as the prince, although Lewis' foul-mouthed Mickey is a tad too contemporary with her profanity. Both display comedic flair as they mug their way through "Funny Face."

Also impressive is Clinton Derricks-Carroll's high-charged Reverend Montgomery, whose gospel-tinged "Kickin' the Clouds Away" energizes his supporting chorus line.

The most memorable aspect of "My One and Only" is screen and stage vet Betty Garrett's perf as Madam Magix. Duetting with Gruber on the title song, Garrett gives ample evidence of her hoofing skills.

Kudos also to Heather Carleton's flapper-perfect costumes and Bradley Kaye's tap dance-enhancing winding staircase.