That is very sad, film was a part of our viewing experience not that long ago.
Here is a link to the review: http://www.blurayreviews.ch/reviews/little-mermaid-the-diamond-edition-blu-ray-review.htm
It's from a Swiss web site.
The snapshots look beautiful, and Ariel's tail is a mix of Green and Blue again.
The sound mix is being reviewed as being very good musically, but the high frequency is slightly distorted.
Also, on an interesting note, the 3D version is being supervised by John Lassiter.
Obviously, it would never replace the original, but I would give it a chance, just to see what they made of it.