Watching the film war horse recently, it depicted British cavalry armed with Swords and Pistols for the Officers. I had thought that all British servicemen would have carried Rifles even the cavalry.
So at the beginning of the war what would the typical cavalry soldier be armed with?
British cavalry were armed with rifles (as opposed to carbines) from 1903. This didn't completely supersede their swords or lances though.
The rifle would be carried in a 'bucket' on the saddle like this along with a sword.
Lancers were still equipped with a 9ft lance, as seen in this photo of the 16th Lancers on the march in Autumn 1914. http://www.1914-1918.net/PIX/IWM/Q_56309.JPG
In the early stages of the war, both were used. For instance, the 9th Lancers fought with both rifle and lance at the Battle of Mons on 24th August 1914. As part of a flank guard action, a squadron of 9th Lancers charged the Germans as they advanced on a village, which won their commanding officer Capt. Grenfell a VC.
In the same battle the 9th Lancers also engaged the Germans on foot with rifles, along with the 18th Hussars.
So at the beginning of the war at least, the weaponry cavalrymen were equipped with would be 1908 Pattern Cavalry Troopers sword and/or a 9ft ash lance, and a bolt action Lee-Enfield Rifle. Like you said, I imagine that cavalry officers would have revolvers instead of (or perhaps in addition to) their rifles, although I don't know about that for sure.