The Revival is interesting as an alternate take. I'm not one of its die-hard fans. It has some nice things about it (I like its setting for the song "By The Sea" - delightfully morbid). If there's one thing I appreciate about it, it's the intimacy it creates. And the more modern take on the costumes is also refreshing, giving the show a bit of an edge. But stripping down the orchestrations isn't a win for me. So much of what I love about SWEENEY is the incredible complexity of its score. I can tolerate the reorchestrations, but I can never love them.
As far as Cerveris is concerned, I think he's kind of... boring. I never quite connect with him emotionally. I know others adore him, and I do think he's a talented actor, but I'm just not a fan.
LuPone? Well, I love her... but not in the revival. I love her in the concert setting she did (captured on the CD with the New York Philharmonic and on the lovely DVD). In that, she's lively, funny, and as great a Mrs. Lovett as I could ask for. In the revival, she's far too subdued.
I'll be seeing the current revival cast a little later this year, and a different set of performers might make me feel very different about it all. I understand that the show has become a bit more lively with subsequent performers.