Produced with skill, staged with originality, and played with a rare combination of power and understanding, the Theatre Guild's current production of Shakespeare's "Othello" must go down on every theatre goer's list as a masterpiece of writing, directing, and acting.

Dominating figure on the stage is Paul Robeson, taking the lead part of Othello. The rolling bass of Robeson's voice, become famous by his years as a concert singer, draws the attention of the theatre like a magnet whenever the Moor speaks forth in his deep and melancholy tones. The giant Negro acts the part of the brave but not too intelligent warrior with exceptional understanding, giving it a depth which several of the lesser but more sparkling parts lack.

Jose Ferrer, playing the wily villain of the play, Iago, threatens at various moments to steal the show from Robeson. He portrays with evil genius the wicked shrewdness and the twisted mind that produces the tragedy of "Othello" by mastering the simple strength of the Moor. By a crook of the finger, a clearing of the throat, a lift of the eyebrow, Ferrer probes the depths of the villain's complicated character more thoroughly than could a less capable actor by an entire speech.

Lesser parts are competently, though not brilliantly performed. James Monks, of "The Eve of Saint Mark," does the best job of the minor players as Cassio, another victim of Iago's treachery. Uta Hagen is a very frail and very dainty, but also a very spiritless Desdemona. Margaret Webster, who directed the present revival, plays Emilia, Iago's wife, completely straight. She adds not one touch of her own which would let the audience know whether she is working for or against her villainous mate.

The production, handled by Miss Webster, is, with the exception of one or two slips in timing, nearly perfect, as are the original and eye-catching stage settings.