The colourful stories of disintegrating relationships and drug-and-drink excess that fuelled the making of Fleetwood Mac’s Rumours have become almost as legendary as the multi-million-selling album itself (still among the top 10 sellers of all time). Indeed, they’ve inspired countless documentaries, a fictional book and TV series (Daisy Jones & The Six), a tell-all memoir by the album’s sound engineer and co-producer Ken Caillat, and now Stereophonic, a full-blown stage dramatisation. The latter evidently owes a debt to the former, given the speed with which a lawsuit claiming the play was an unauthorised adaptation of the book was settled out of court, but if anything gives even greater credence to the finished work.

And David Adjmi’s drama - with songs by Will Butler of Arcade Fire - is quite an astonishing, as well as innovative and exhilarating, piece of work. Ten years in the making, its Broadway run earned a record 13 Tony Award nominations (it won five, including Best Play) as well as an array of other gongs and widespread critical acclaim.

All of which makes its current London run undeniably this year’s hot ticket, and one of the reasons why a Midlands-based publication is reviewing a show beyond its traditional geographic remit. That and the fact that it sees one of the region’s brightest young actors taking another step on the ladder to stardom  in the shape of the Black Country’s very own Zachary Hart, though not employing his own accent this time round - and well, Rumours is probably the greatest album of all time, isn’t it?

The play doesn’t quite reach the dizzy heights of the Mac’s masterpiece, but it’s not for the want of trying, with sharp dialogue, superb staging, sumptuous styling, great music and brilliant performances (by actors who also sing, play and record the tunes live) that combine to create a vibrant, atmospheric drama that provides an insight into the creative process as well as the personal costs that come with the pursuit of perfection. All courtesy of a passionate group of monumentally dysfunctional musicians and their patient - if way out of their depth - sound engineers.

Largely sat behind the mixing desk while the band are in a glass recording booth - a set beautifully realised by designer David Zinn - the pair, played by Eli Gelb and Andrew Butler (both reprising their Broadway roles) - anchor proceedings and provide an element of comic relief amidst the chaos and almost non-stop bickering of the egocentric, vindictive, and all too often arsehole, members of a rock band comprised of three men and two women, three Brits and two Americans, two couples and one drummer - sound familiar?

Lead guitarist and singer Peter (Jack Riddiford) is a perfectionist control freak, his girlfriend and lead singer Diana (Lucy Karczewski) is needy but wants to break free of his dictatorship, keyboard player and singer Holly (Nia Towle, fresh from playing Ophelia at the RSC earlier this year) has had enough of permanently-wasted husband and bass player Reg (the aforementioned Hart), while drummer, leader and manager Simon (Chris Stack) provides the occasional voice of reason as he tries to hold his band together.

Coop them up them in a claustrophobic Californian recording studio for a year (it was supposed to be six weeks) and sparks soon fly as drink, drugs and the pressure to produce a hugely-anticipated second album exact a heavy toll on all concerned. And that includes the audience. Not only does the stifling atmosphere of the studio - could I smell weed? - permeate the auditorium, but holding witness to so many screaming arguments and ego-driven tantrums inevitably gets wearying as the songs play second fiddle to the behaviour of their creators.

Mercifully the music - which evolves before our eyes and ears - is mostly terrific, making the second half a relatively easier watch as the album nears completion, the songs reveal themselves and explosive spats about tempo or the tuning of a drum can finally be put to one side... and replaced by equally fiery disputes about overdubs.

And yes, the play really does contain that level of minutiae, which makes it commendably authentic as well as a genuinely deep dive into the nature of (certain) artists, how art is made, what it means to make it, and the toll it takes to do so. A bit more music wouldn’t have gone amiss – that’s what most of the agonising has been for, after all - but Stereophonic is steadfastly a drama not a musical, and leaves little room for illusion about the fact. As well as precious little illusion about the nature of perfectionist artists and the price they pay for the art we love. If the play occasionally feels like hard work, it’s definitely worth it - and maybe that’s the point.

Four stars

Reviewed by Steve Adams at the Duke of York’s Theatre, on Thursday 28 August. Stereophonic continues to show at the venue until Saturday 22 November.