Courtesy of digital projection, a giant carousel turns in stately fashion (it’s almost as splendid as Noyce’s golden gallopers at St Giles’ Fair). The autumn colours of Richard Rodgers’s Carousel Waltz swirl up from the orchestra pit. Thus begins this brand new production of Rodgers and Hammerstein’s classic musical.

It’s soon apparent that director Lindsay Posner and designer William Dudley were keen to combine the best of the old and the new as they worked on this 60-year-old show. Big-screen-projected digital images largely replace traditional sets: the results are often refreshingly spectacular, although picture quality is not up to present-day cinema standards. Particularly effective is the harbour scene, in which duplicitous Jigger Craigin (a strong cameo from Graham Macduff) attempts to persuade fairground barker Billy Bigelow to join him in a doomed robbery. In the background, ships bob at anchor, their masts silhouetted in the night sky.

Meanwhile, director Posner places great emphasis on telling the folksy, yet increasingly dark, story. Acting is convincing throughout, singing is generally clear and transparent. As Billy Bigelow, Jeremiah James sounds as if his top notes are a challenge, but he oozes warmth from beneath his rough exterior. His sweetheart, Julie Jordan, is beautifully sung by Alexandra Silber. Among the supporting cast, Lauren Hood is surely a star in the making: here making her professional debut, she plays the role of Carrie Pipperidge as if it had been written for her. There’s gutsy backing from the ensemble, which includes Abingdon’s Tasha Sheridan.

But the big moment is present-day star Lesley Garrett’s performance of You’ll Never Walk Alone. The number is often over-schmaltzed and belted out: Garrett begins whisper-quiet, and only briefly rises to full volume. The result is devastatingly effective — my eyes most certainly didn’t remain dry.

Last, and by no means least, the show benefits greatly from new, yet traditionally styled, orchestrations by Larry Blank, who himself conducted on opening night at Milton Keynes. I’ve heard this score many times, but a wealth of colourful, fresh detail was revealed.

This Carousel is built to fit the narrow confines of the Savoy Theatre, London, where it is due to open next month. As a result, there are a few sightline problems at Milton Keynes — check when booking. Some tightening up is required before the production is ready for the West End — at times you are aware that it runs for nearly three hours. But you are left in no doubt that this great, and supremely melodious old warhorse of a show is very much alive and kicking.

Carousel continues at Milton Keynes Theatre until Saturday. Tickets 0870 060 6652 (www.miltonkeynestheatre.com).