I just got from the first preview as well, and I pretty much echo your thoughts. This production, although being a wonderful show in and of itself, is in VERY rough shape.
The direction is indeed terrible and seems to be all over the place. The supporting cast seems to be in a competition with cast of American Buffalo for worst ensemble acting.
Testing, I do disagree with you about Michael Cerveris and Mary Louise Parker. I think Michael was the only one up there who had created an interesting character.
I'm actually really fond of Parker as an actress, but this role was all wrong for her. It certainly didn't help that she didn't have good support to act off of, but she didn't make many wise acting choices, especially in the second act. I felt like she brought too much modernity to the role. The line delivery was too sarcastic and felt out of place with the setting. Maybe this could be explained by the direction...
Everything the brilliant production of The Seagull did right, this did wrong. I went in wanting to love this, but sadly walked away disappointed.
Marie: Don't be in such a hurry about that pretty little chippy in Frisco.
Tony: Eh, she's a no chip!