Nice. Since the Australians have gotten their seasons quicker than in the States, perhaps a similar set will be released in Region 1 once the original series is finished.
And maybe with bonus material?
I too would like to see a Fraggle Animated DVD set at one point. I mean, sure. It wasn't in the same league of greatness os the real, Muppet, version of the show. But it still was enjoyable. As well, it was what us poor kids had to contend with, not being able to see it on HBO (HBO... Jimmy, what were you thinking? It would have been prime for PBS!)
But I'd rather see it in a cheaper 2 disk set. You could still have features with it, but the cost would be a little lighter on the wallets.
As for features, I'd kill for voice actor interviews (especially Rob Paulsen..NARF), as well as some original sketches and stuff. maybe even have a small Lithograph or rerpoduction cel (ala the Pinball Number count with Old School 2) to come with it.