If the cut scene needs to be exact, like a movie, I'd just look into YUNPM
and try to make a full movie cut scene using the normal video tools.
If it is one of those interactive cut scenes, then I'd handle it the way movie scripts are handled in code. I'd write all the dialogue for the cut scene in one XML file stating the characters as the tags. Then, I'd add the cues and camera positions to the specific points in the file where characters need to move, and the camera angle needs to change. Kind of like this code snippet...
Disclaimer: This is a mock up example. It hasn't really been tested so don't ask what the numbers mean
<Barbera> "You can't let that kind of thing get to you!" </Barbera>
<Cathy movex=17 movey=18></Cathy>
<Barbera movex=13 movey=14> "He doesn't know anything..." </Barbera>
<Camera movex=18 movey=19 movez=9 rotate=0.15></Camera>
<Cathy rotateHead=0.15> "I know he seems inconsiderate sometimes, but I can sense a change in him." </Cathy>