I must say I found your comments quite historically inaccurate. The Reformers--especially Calvin, Knox, etc.--did reform the theology of the sacraments. Simply note their distinctions from Luther himself over consubstantiation and their spiritual presence doctrine and even their difference over baptism (West. Conf. of Faith chapter 27ff.). To see the full impact of the Reformation check out:
http://polymathis.blogspot.com/2004_01_01_polymathis_archive.htmlTo reform theology (if it is all the major doctrines) is to "restore the doctrines of the Christian faith". So, I am not sure what your point is exactly. I also assume by "Separatist" you mean Anabaptists? If so, they were quite a diverse group with a multitude of beliefs.
I do agree in general with your last point concerning FV. In many ways its an overemphasis on the sacraments resulting in some cases an almost redefinition of their nature.