'Until a script is ready for a director, it is self-defeating to give it to him. If it is not your play yet, you can't blame him for making it his.'-- Terrence McNally
If the answer to the second question is Yes, then as the folks at Nike say, Just Do It.
It's especially important to move on to your next play if the one you're revising now is the first you've written. The amount you've learned from writing this first play is probably far greater than you realize. And you'll only see the proof of that in the next script.
http://www.vcu.edu/arts/playwriting/