Stravinsky turned to neoclassicism because he found freedom to be bold within in its rules.

Scottish Opera's new production of The Rake's Progress – which opened last night – does the same. Director David McVicar and designer John Macfarlane use period setting (18th century London) and period theatre techniques to create a brash, bawdy and brilliantly lavish look, but behind the raunch and the outlandish hairdos it's a classic treatment – which few modern productions are willing to give this opera.

Much credit is due to Macfarlane, whose vast painted backdrops, pop-up London streets scenes and charming quirky details (wooden puppets in the first act, a bizarre mechanical bread machine in the second) are masterful. The costumes are fine, too: Anne Trulove (Carolyn Sampson) in radiant white, Tom Rakewell (Edgar Montvidas) quickly morphing from wholesome to sleaze.

In fact, there's no shortage of sleaze: the brothel scene is a fiesta of gross cartoonish burlesque, replete with bad teeth, bad skin, dildos, dominatrix and plenty of cheerful fornication. Mother Goose presides with broad Glaswegian twang and giant breasts proudly out, milking herself and feeding it to her devotees. The absurdity cancels out any serious offence. The other big crowd scene, Act 3's auction, is likewise invested with so much visual detail that the principal characters – especially Baba, Tom's bearded lady wife – occasionally get lost in the mix.

Musically this production is one of the company's best for a long while. The orchestra is sounding seriously rejuvenated, particularly the strings, from whom conductor Sian Edwards draws percussive and vigorous dynamism. Vocal performances are strong, the three leads perfectly matched in light, ebullient timbre and clear diction; WH Auden's and Chester Kallman's libretto comes over a treat. McVicar has stuck to script.