Well, I gave it a try, took ten days to arrive but today I took delivery of the DVD I ordered - the 2007 Transformers movie.
What they sent me was the DVD in a card sleeve, the wrap-around card thing to go around the plastic case, and the insert for the plastic case, with lots of Chinese on the cardboard. It looks professionally made and plays OK but I don't think it's kosher - the Ironman and Transformers trailers don't work, amd it turns out to be all regions and unencrypted, which seems just a little unlikely if it's a legit copy. The sleeve says "one disk special edition" on the front but appears to have info for two disks on the back. Lots of other inconsistencies.
What I think we have here is a factory-made counterfeit - someone has cracked the encryption and I think compressed it to single layer to save on manufacturing costs, run it off via a professional disk duplication factory, and printed a genuine-looking sleeve to go with it.
Now I suppose I need to go warn eBay, who are running their ad, and Google, who handle their payments. Count me somewhat less than impressed.