Oooooh, guess I'm in the minority. I thought the tour was wonderful and many, many things made much more sense than the original: hopefully some of these aren't spoilers - the transition/flashback sequence from the auction to the rehearsal of Hannibal, the descent to the lair, "Prima Donna" moving the plot along, the staging of Bouquet's death - all were so spot-on/smart. When the chandelier fell, there was a very loud "bang" that scared me to hell, and "glass" pieces exploded into the audience - some pieces hit me in the face, and I was sitting there smelling gunpowder, shocked - me and the lady next to me, looking at each other in silence; don't even thing we remembered to applaud we were so stunned. Things are more poignant and make more sense: in the end, when the POTO says, "Christine, I love you," Christine has crept back onstage to return the ring, but his back is to her; he doesn't know she's heard him say this, yet she still leaves...which is how it should be/more believable; a man like the POTO who's concealed his entire being would never tell someone his true feelings.
Yes - "Masquerade" = a dud. Bland, no magic. Costumes are very bad, no visual appeal; they are really "non-costumes" if such a thing exists - especially the Phantom's; it's uninteresting, especially if you've seen it on Broadway or even a prior tour/sit-down; missed the staircase/opulence. I did miss some of the magic of the lair/candles/boat. I hated that wig on the Phantom; too long - and I can't remember if that wig came off in the Final Lair...?
Saw the prior tour many years ago - the one on B-way 15 years ago - the recent tour 2 years back. To me, the tour performance I saw, it would be false and disrespectful to say it is "terrible" and that it should be passed up. There is still spectacle and magic, not to mention the acting and singing.