Watching talented people present a live radio broadcast, like listening to a charged reading of a stage play, can be a surprisingly entertaining experience. Theatrical Outfit's IT'S A WONDERFUL LIFE: A LIVE RADIO PLAY, opening Fri., DEC. 7, tries to replicate the excitement of seeing "A Prairie Home Companion," for example, in person by envisioning the classic Frank Capra movie as a live, no-frills radio play. Five actors and one sound-effects artist capture dozens of roles and locations in the magical town of Bedford Falls. It's the kind of presentation that won't compete with your memories of the classic movie as much as enhance them. Through Dec. 23. $30. Wed.-Sat., 7:30 p.m.; Sun., 2:30 p.m. 84 Luckie St. 678-528-1500. www.theatricaloutfit.org.