I am going to say that this one is going to be short, since the only difference between this song and the one in the film is that the original version has an extra verse. Here is the extra verse:
Come on, I know you need a little magic
And magic is my specialty du jour
Don’t just stand there looking sick
Would I kid you? Play a trick?
Like I told you, I don’t do that anymore
So I think you ought to take my little bargain
Yes, I think you ought to make my little deal
Sure, it’s hard to leave your life
But you could be a prince’s wife
Why don’t you let me take that dream and make it real?
To be very honest, I am kind of glad they cut it. The length the final version is long enough as it is, and with the additional verse, it would have been overly long. It would be one thing if the verse was adding something new, but it was just rehashing a bunch of statements that were already said.
Looking at the extra verse, there is a focus on magic (we already know that, Ursula restating that she is not evil anymore, and focusing on how Ariel will be around a prince, which will be better than being with her family. Ursula is saying the same stuff over and over again, it is not adding any depths or layers to Ursula or Ariel, so it was just taking up more time.
I know that this was barely a decent review, but I am analyzing a verse, and a pointless verse, so there was not enough to say about it. There is nothing bad about the verse, but it is just a bit redundant to say the least, and I do not blame them for taking it out. Time constraints were most likely an issue for them, since the film could not be too long.
Since this review was so short, I will be posting another review of a song within the next 24 hours. It could be posted in the next 2 hours, or a full day from now. Look out for it.
animatedkid 
Thanks for doing this one!
Oh, “specialty du jour”, that’s what it was! I always wondered what that line was.
I actually wish these verses had been in the final cut as I feel the original cut isn’t long enough as it seems to have a beginning (the start of the song) and then rush to an end (the ending of the song with Ursula mixing everything together in the cauldron getting Ariel to sign the scroll). These middle verses provide a sort of middle for the song and builds up to the ending verses, in my opinion. Like, the only reason I put this song at #4 on my Top 13 Disney Canon Songs list was because of these original verses.
This is just my opinion though.