Not sure what you are going for, but we just had a what I think went over well in our "second stage slot"  We had been considering a reader theater for a short reheasal slot we wanted to fill and the director came up with doing an evening of old time radio shows.. The are in the public domain so no royalties.. We did a total of four episodes, one each of Dragnet, Our Miss Brooks, Sorry Wrong Number and All About Eve.. We used the previous set (Steele Magnolias) Threw a little paint on it to make it look kind of run down and institutional, came up with a folley system of hands on sound effects, set up some wooden chairs, three stand mics, put the actors in rudamentary period costumes (street clothes from the period) and then they read thier parts, just like they would have in the radio shows... it was complete with commercials, and announcer spots... Some actors did multiple episodes, others were only in one spot.  In my opinion it was a great night of entertainment.. and was quite cheap to do, with minimal rehearsal..  Just a thought

Talk about a fun time, I would laugh just watching the sound person create the sound effects like the folley artist - (door opens) are they on cue or late or wrong sound effect.  Even funnier with one or two people having to run around the stage doing the effects.