It probably is already common knowledge, but Arrow Film is releasing an official three Blu-ray Waterworld with some sort of reconstruction of the Ulysses Cut.
Already officially released.
http://dvdcompare.net/comparisons/film.php?fid=15915#13
Blu-ray A/B Limited Edition United Kingdom- Arrow Films - No cuts - includes the theatrical cut (135:06), the US TV cut (176:01), and the “Ulysses” cut (177:12) which restored shots and dialogue cut censored in the US TV version.