The original classic, with a modded cover (the image in the center is the old one but the rest of it is obscured by the faux-leather image, probably to ensure that no one mistakes this for the original).
I give this book 5 stars for the quality of the PDF and the standard print hardcover, both of which I own. The PDF is a very clean scan, near-perfect, and the print version is fantastic. I challenge anyone to peruse the open book (without looking at the cover) and be able to tell it is not a mint version of the original printing. That is how clean and satisfying I find the printed product.
In terms of the content, it is classic, original AD&D, 1st edition. No changes or edits as far as I can tell (though I do not have the original, so I can only base this on memory, not compare side by side). The book is written in the typical authoritarian, somewhat-wordy Gygaxian style (though overall, I find him to be a competent writer). The game is extremely detailed and complex, but then, that is AD&D. I don't think it is worthwhile rating the actual game of AD&D itself since so many editions have come after it, and you ought to know what you are getting with this book.
If you have always wanted to see what AD&D was like, and want a quality copy of the original PHB, this is well worth the cost in my opinion. It's certainly cheaper than trying to be a decent-quality copy of the actual original print run... those can be quite pricey. And if you used to play AD&D but like me, your original books were lost to the eternal fires of Mount Doom, and you would like to have it back, then you can't really go wrong with this copy.
[5 of 5 Stars!]