Dig down into the description of the item, and it says it includes the GeOW3 beta, plus all of the other "Epic Edition" items.
The pic isn't of the "Epic Edition", so it might be a crapshoot of which version you get.
Yes, but there is mention of upgrade to the "Epic" or "Limited" editions only if you preorder before 2/22/11:
Bulletstorm - Epic Edition
Pre-order Bulletstorm before February 22, 2011 and recieve an automatic upgrade to Bulletstorm - Epic Edition, which includes:
- Guaranteed early access to the public beta for Gears of War 3 - the spectacular conclusion to one of the most memorable and celebrated sagas in video games
- Peace Maker Carbine, boots and armor
- 25,000 experience points to use right off the bat
- Visual upgrades for the iconic leash