Privacy Policies--Huh?

Webkinz were the hot new toy a couple of years ago, stuffed animals that come with one-year subscription to web activities. My young informants (Ella and Amelia) tell me that Webkinz are only lukewarm these days, at least for the elementary school crowd.

Still, I wanted to see how Ganz, the parent company, uses information submitted by Webkinz buyers/owners. There are actually two privacy policies for the Webkinz site, one general policy written for adults and one written for parents explaining how kids' info will be used. Ganz also has a link to the FTC's Kidz Privacy page.

Are parents actually reading the fine print in all these privacy policies?