I saw the tour on it's recent Seattle stop. I've never seen the original on BWay/London, nor the first go around of the tour, so I can't compare, but for the most part, if you never seen a production, it does fine as a touring show.
Set wise, the village is three skinny revolving houses. Belle's house is just a set piece that wanders in from the side. "Be our Guest" is mostly done if front of curtains. Most of the Beast's castle is represented by a throne, a staircase, some platforms, and some curtains.
Costume wise, I thought for the most part they were fine, except Mrs. Potts teapot costume looked really cheap compared to Cogsworth and Lumiere. The "Be Our Guest" costumes were also a little cheapish looking.
Performances were fine all around, though the person playing the Beast seemed to mumble in his lower register a little too much, and I missed some of his quieter lines.
Also, be aware that there will be a lot of kids attending this show, and they have varying attention spans. Most of those around me lost interest in the book scenes (especially during act 1, when there seems to be a bunch). I cut kids a little more slack for misbehaving at a theater show (especially when it is geared towards kids) than adults, but your level of tolerance might be different than mine (note that most of the kids that really didn't have attention spans usually ended up leaving at intermission, at the performance I went to, it was about 10-15% of the audience).
Xanadu! Can't cry on cue!