I've never heard the album but I'm thinking it should be either Julie Taymor (say what you will about Across the Universe, but she is a visual virtuoso, which is always a plus for musicals) or John Cameron Mitchell (Hedwig and the Angry Inch). I don't know how old Ace Face's character is, but reading up on the musical but sting was in his late twenties when he did the role. I had hard time thinking of a cool young British actor who could be a mod, but then I thought of Cillian Murphy. Do you think he could do it?
Ren-fests are a source of cheap humour, and yet, to my knowledge no one has done a comedy about them. So if there was a comedy about Renaissance fairs, would it be a light-hearted or mean-spirited comedy and who would be hilarious as an average shlub pretending to be an old-timey person?