I don't know if this is new news to anybody here, but I was told by Olszewski Studios that the BLUE FAIRY would be a part of the MSEP set #4.
"Yes the Blue Fairy is intended to be included in the Electrical Parade, she will be part of set #4." Travis Tokuyama, Olszewski Studios
It would be included along with the Dumbo's Circus section, though she is, of course, from Pinocchio. I'm very happy about this as I always remember her as starting off the MSEP.
Let me know if this has changed...