R E V I E W S.(PREVIEW)

DANCE

``The Casablanca Records Story.'' Various artists. (Casablanca) :

This is, without a doubt, the quintessential dance album: four CDs, each crammed with more than 75 minutes of the cream of Casablanca's crop.

And what a crop it is: Donna Summer, the Village People, Parliament, Love and Kisses and Cher, to name a few.

Summer's 17-minute ``MacArthur Park Suite'' alone is worth the price of admission (about $60). This is the masterpiece of the genre, the ``Stairway to Heaven'' of disco, without peer for its sheer musicality. Forget the inane lyrics about some cake left out in the rain. The song's brilliant segues, its blend of melancholy and Summer's dynamic drive are simply heavenly.

To a lesser extent but still terrific are Summer's rocking ``Hot Stuff/Bad Girls'' medley, Teri Desario's ``Ain't Nothin' Gonna Keep Me From You,'' with its hummable Barry Gibb-written hook, and ``Chase,'' Giorgio Moroder's hypnotic theme from the film ``Midnight Express.''

But let's face it, disco could also be mind-numbing, and there's plenty of ammunition here for those who think so. Stephanie Mills' ``Medicine Song,'' D.C. LaRue's ``Let Them Dance'' and Dennis Parker's ``Like an Eagle'' are featherweight entries, even by disco standards.

There are also some puzzling omissions. Santa Esmeralda's ``Don't Let Me Be …