It's my understanding that the gun on the Sheridan had some real kick to it when firing shells. The other issue I think had to do with the caseless ammunition not completely clearing the breach, which caused the crew to suffocate or immolate, or something like that. I think they did eventually fix that otherwise the tanks wouldn't have been used in Desert Storm/Shield.
I think a longer-barreled variant of that gun was used on the MBT-70 prototype.
The problem with the M551 was that the caseless ammo would not always be totally consumed, so there would be burning embers still in the barrel when the next round was loaded. This increased the chances of a cook off, either prematurely firing the round, or actually causing an explosion before the breech was closed. This was resolved later by a CBSS (Closed Bore Scavenger System), that pushed compressed air through the barrel to clear it before loading. Many modern tanks, including the M1A1, have this system.
Another issue was that the rounds tended to absorb moisture from the air. This was especially an issue in Vietnam, where the air was often hot & humid. This caused the rounds to warp & deform, sometimes to the point where they cannot be chambered anymore. One resolution was to wrap them in plastic, to be removed immediately before firing. I don't know if the ammo was further refined at a later date.
The gun was probably a little too powerful for the hull. When firing often the first pair, or even the first two pair, of road wheels would lose contact with the ground.
The MBT-70 indeed did have a similar gun, longer barreled though. The M60A2 as well. Though those were quickly withdrawn from service, about the same time as the M551 was withdrawn from service (save as an Airborne Assault Vehicle & VisMODS).
There were attempts to remedy the armament issue, to keep the M551 relevant (the actual vehicle itself was pretty good; just that the main gun was very problematic). This included fitting the turret with the 76mm high velocity cannon from the M41 Walker Bulldog, as well as attempts to fit a 90mm cannon. None of these solutions were used, & the vehicle was withdrawn anyway.
Damon.