I don't mind so much. The reason I favour live theatre over movies is because things can and do change so much. Even if the cast follow the script exactly, no two performances will be alike. And we may know who Gary Coleman is, but what if the UK version has someone else who makes the show even funnier for us Brits but who would be lost on Americans? I'm not going to judge until I see the show, but I try not to be filled with pessimism in the meantime. ^_^
"Watered down" is what they're doing to the musicals that are going over to Vegas. I personally am very glad to be in the UK rather than there. Sure, we'll get different verions of the shows, but they'll be *different*, rather than shorter or shallower.