I had no idea who they were made by, honestly! Mermaid's_grotto, I did some searching and you were right, the dolls I have were all made by Applause. I should still have the rock that mermaid Ariel came with somewhere too.
I loved playing with them, but I always wanted them to look like the "real" Ariel. So my inner child would love to see a nice, film accurate version in a nice case.
The downside to that is, the other sets would not be of interest to me if they were just film accurate. Good for my wallet, bad for my collecting sensibilities.
I too am hoping this latest bit of scoop is just a rumor.