From the pictures I've seen, it's looking pretty "screen accurate" as far as costumes
That was certainly the truth. Only Riff's costume (which instead copied a recent Rocky Horror Show European touring production) and the space costumes were different. Everyone else was an exact copy of the movie, right down to Frank's anklet. Unfortunately.
the set look like they put a lot of time and money into it
Yep. And then they cheaped out on having a band, instead using pre-recorded 80's-esque synthesized music played by the Narrator on his MacBook. Gah! This was particularly unfortunate, because all the performers were great. Rocky could even sing, which is always a bonus! But they were really hamstrung without a band.
I had a blast though, as I always do at Rocky Horror Show productions.