I don't want to speculate on why this hasn't come out on Blue Note. I personally don't think it's a great session, and the Fresh Sound cd sounds really flat . . . but then most of the cds of that vintage from that label sounded similar. Michael Cuscuna could either/or/both not like this and not like its sale potential. If they wanted to release it, having no master tape may not deter them, I know of several (a Bill Potts and a Horace Silver cd) releases from lp mastering. . . .
Maybe one of those who have Michael's ear could get some information, Kevin or Reiner for instance.