Surviving a rather indifferent opening performance, the recently-formed Players' Theatre group is presenting a second weekend run of its musical take-off on the features and foibles of life in Beantown. Bolstered by the advantage of first--night experience and a week of hard work in which to apply the numerous lessons of that experience, "Baa Baa Back Bay" has a good chance to graduate from the mediocre to the mighty fine in its appearances tonight and tomorrow night.

Director Lynn Gordon has assembled a full lightweight round of assorted pokes, rabbit-punches and backhands delivered at a musical tempo to the sensitive parts of Dame Boston's anatomy. Hizzoner the Mayor, the debutante, college life and the Boston El all come in for their share of playful pushing. There is a burlesque on the modern school of dancing that does one of the Hub's outstanding aesthetic horrors to a beautiful brown. But many of the best scenes and most of the real talent fall outside the local-color category and would fit well into any revue. Bob Henry proves himself a capable young comedian in two laughable acts. Estelle Stahl provides a couple of the better moments, and the Willison-Bates number, "What Noise Annoys an Oyster," is first-rate. With more attention to its own better examples, a generous use of the stage hook on some of its amateurish singing and acting, the Players' Theatre should get many a bleat at Boston before shearing time in the spring.