Ok, I saw these Golden Compass figures up close at Toy Fair...they are definately in scale. I believe they intend to have more articulation than shown as well.
The poster they had for the figures showed 8 and showed articulation in the elbows and knees at least, possibly more. We were very rushed at the Master Replicas booth and abandoned by our guide so we did not get any details.
Also of Note, besides that line there will be a 3 3/4 inch Harry Potter line too. It was in a "No Photos" zone. They had a House or maybe the Hogwarts playset, but it was nice looking too. Not quite Star Wars, like the Golden Compass Snow Cave...also that Polar Bear they were using is in some of the Chap Mei sets, so I would guess those were mostly prototype things.
Sorry we couldn't get good info and photos at the show, but you don't want to get me started on that portion of the trip.
I'll look on my camera and see if I got any photos that haven't been uploaded, but I think Rob had the majority of photos from the MR/Corgi booth.