I think it isn't played more because it's a torso; Prokofiev planned to write two or three more movements, making it a full length sonata but sold the first movement to Belaiev who was anxious to start publishing the young composer's works. I've always felt when listening to this piece (and I think it's great) that it's incomplete, that there's still more to happen. My undergrad teacher suggested it for my senior recital so I dutifully spent a week with it, but decided it was a lot of work for something that seemed not finished, and difficult to program to boot. A young pianist friend of mine (eminently suited to play this piece) had the same reaction when one of his past teachers reccomended it to him.
Hmmm, I am preparing a Russian program with a cellist, still sorting out my solos. I'll go give it a go right now....
Topic: Prokofiev sonata no1