Well, this is a total hoax, but I'll play along. Let's see if we can find everything that makes this rumor ridiculous:
--Unless you're charging $200 a ticket you couldn't afford all of those people in the same show (Crawford and Peters alone each get $50,000/week plus a percentage of profits -- and Foster and Bart would expect star salaries as well, given that they're also playing the leads)
-- How about Michael Crawford and Roger Bart for the La Cage revival? That makes a lot more sense than either of them for Arnstein.
-- Sutton Foster as an ugly-duckling Jewish vaudeville star? Okay............
-- Older Fanny and older Nick? In Funny Girl? (which ends with Brice still in her 20's and Arnstein still in his 30's?) Yeah, 57 year old Bernadette Peters still waiting around for fey, fat, bald, 62 year old Michael Crawford to get out of prison at the end of the show -- QUITE a concept. Don't hold your breath waiting for Jules Styne's estate, not to mention Ray Stark's estate (Brice's real life son-in-law who produced the original musical and the movie and was fiercely protective of the show as well as Brice's image)to approve the changes. "Follies" crossed with "Funny Girl" (a show that has nothing to do with getting older and regretting the mistakes of youth -- at least Styne and Merrill never wrote any songs about that in the show) -- Wow, what an awful idea.
"What a story........ everything but the bloodhounds snappin' at her rear end." -- Birdie
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"The Devil Be Hittin' Me" -- Whitney