Just got my self a third Hobbit. I already had the illustrated Alan Lee hardback, then last year got the facsimile of the original edition, and today I am the proud owner of the De Luxe Edition illustrated by the author. It really is beautifully presented in a nicely designed slipcase, with gold leafing and some additional 'extras' (pull out map etc). It does look very nice, and I'm looking forward to reading it.
But if I had to recommend a version to buy, it would still be the 'facsimile' version, which comes with much better 'gifts', is just as nicely presented and is the original story before revisions to draw it closer to the LOTR book. The facsimile version is also considerably cheaper