It depenRAB on what actually happens, really, but I have no problems at all with the idea.
The director has developed a bit of a reputation for screwing up the lives of his protagonists or at least making them very painful, so Lelouch's still going to suffer a lot no matter what (as if that wasn't clear enough)...but in the end he manages to turn things around to provide a more or less "happy" resolution, one way or another, in the end.
I've liked or enjoyed most of the series Taniguchi has directed, personally, so can't say I would find that anti-climatic, at least not in theory. Lelouch's made a lot of sacrifices and he'll still make a few more, but at some point he should at least achieve his objectives, even if they change due to the circumstances, and some sort of compensation or redemption wouldn't be out of line.
Doesn't mean people will not die (on the contrary, the way things are going, I think we'll still see a few more losses) or that all the dead will be revived (the only way I could see that working is with Marianne, of all people, since we don't even know what the real deal behind her is....but not really anyone else).