Here’s what’s great about Shakespeare: There’s no one way to do it right. The themes of love, valor and death hang tough as years, styles and governments pass.

Miraculously, the works can take a whole lot of clever twisting and tweaking. Otherwise, we wouldn’t have the chance to experience the kiss between Romeo and Juliet in an al fresco setting on our own waterfront during the prettiest months of the year.

That’s the glory of the Maine Shakespeare Festival, which pitched its set for a fifth summer on the banks of the Penobscot River and opened last weekend under the tickling chill of summer skies. An offshoot of Penobscot Theatre, the offerings this year are more industrious than ever with “Romeo and Juliet,” “The Merry Wives of Windsor,” and “A Midsummer Night’s Dream” playing in rotating rep through Aug. 15.

As in past years, the actors perform on a fairly bare stage with festival lighting and miked floors. Their costumes, by Ginger Phelps, are traditional and the ambiance is nothing short of enchanting. The real appeal of the event, however, is the coming together of families and lovers and friends as theatergoers intent on hearing some of the best poetry ever written.

In five years, the event has grown both in numbers and ambition. The approach, however, might still strike some as theatrically lean. Except for a handful of truly solid performances, this is community theater — and Shakespeare almost never works when that’s the case.

Having seen last year’s shows, including a hilarious “Twelfth Night” and a volatile “Julius Caesar,” this year’s productions seem rather flat. There aren’t any standout performances and that’s a disappointment.

The most charming of the three shows is “A Midsummer Night’s Dream,” directed by Angela Roberts, whose local credits include acting in “Blue Window” and “Cat on a Hot Tin Roof.” Roberts imagines a glittering world of wild faeries and dreamy — if not mischievous — relationships. Entertaining performances are given by Mike Abernathy (Bottom), Robert Libbey (Oberon), Colleen Frashure (Titania), Adam Bloom (Puck) and Shaun Dowd (Egeus).

Mark Torres, the festival’s founder, has taken on the task of directing “The Merry Wives of Windsor,” the only play Shakepeare wrote by request of the queen, who wanted to see Falstaff revived. The cast engages in slapstick and broad humor, which is terrific fun to watch. The best actors are the ones who can be heard and whose characters are deftly developed — Julie Arnold Lisnet’s Mistress Quickly, Robert Libbey’s Ford, Leslie Michaud’s Mistress Page.

“Romeo and Juliet,” perhaps Shakespeare’s most famous work, is Lisa Tromovitch’s final directorial piece with the company. While many of the play’s greatest lines and speeches are lost in superfluous movements and overly dramatic performances, not to mention booming footsteps, the energy and enthusiasm of the cast keeps the production moving and the audience applauding. Notable performances include Guy Davis’ sweet Romeo, Alison Cox’s doting Nurse, Thomas Gray’s exuberant Mercutio, and Keith Robinson’s endearing Friar Laurence.

In all of the productions, the poetry takes a back seat to the action. The producers have thoughtfully written synopses of the plots which are handed out before the show. That’s a boost. But do yourself a favor, and read the plays on your own before going so you aren’t straining for meaning.

Bear in mind, too, that certain technical problems continue to hinder the festival. The miking doesn’t accomplish much for the voices. Rather, it amplifies stage noises and background music. A nearby street light sends out an annoying buzz lasting throughout the production. And ticket prices have gone up to $15 for the good seats, less for students, children and lawn seating.

The Maine Shakepeare Festival is still a spectacle event for Bangor in the summer. But if it wants to move on to the next level and really take on a statewide and potentially regional role, it will have to work out the artistic and technical kinks. Then, it can accomplish its goals not just with gumption, sincerity and community spirit, but with outstanding artistic achievement. That, after all, is the only rule of doing Shakepeare right.

For information about the Maine Shakespeare Festival, call 942-3333.

NEWS intern Anne Warren contributed to this story.