It's been some time now since I've seen it, and I'll never tire of listening to the recording, but you just can't beat the feeling and emotion packed into a live show. I really enjoy most of the songs from the show, though in the times I've seen it, I honestly found I Just Can't Wait to Be King and Chow Down to be a bit weak, whether it was the choreography combined with the singers, I'm not sure.
In any case, I have always loved, and always will love Circle of Life (I just love seeing all those animals and the amazing ways they brought them to life), One By One, Endless Night and Shadowland is beautiful too.
I understand the sentiments regarding seeing Shadowland in the movie, and I agree, it would make a beautiful animated scene. However I find that for the movie to have the full effect that it does, I don't think you can really add it in there. When Simba is an adult in the jungle, he doesn't know Nala is still alive, and neither do we! We haven't seen her since she was a cub so we don't know her fate. If you add Shadowland in there, it ruins the surprise of their reunion. Otherwise, I'm all for it