I have just seen it in store (went to pick up
Transcendence, now that is a classy steelbook) and I can sadly confirm this is G1

.
It's too bad because I for one prefer this front art with Smaug over the one with Bilbo, but I guess I'll have no choice but to order the UK edition. Too bad Warner didn't follow through after their stellar run on the first Hobbit (3 different steelbooks & 1 great lenticular edition).