This will be the disc. The description says: "...the brand-new Grand Theft Auto, containing two complete games - The Ballad Of Gay Tony and The Lost And Damned - together in one box!" I think they would make it explicit if this was a download code only. That seems very unlikely.
This will be the full two games on the same disk. The downloads on the 360 versions needed the GTA4 disk inserted to play as far as I know. I don't know if they will be released on the PSN store for download but I don't see why not.
I'd be very suprised if this wasnt avalible on the playstation store, will be cheaper on the store aswell, probably more around 20 pounds than 25. Further more, no postal or packaging to pay for. I'd imagine it will just install the data to your hdd and then you just play it from your GTA disk. They should do this with more games, particularly the free roamers that did very well and have large landscapes like GTA. Still hoping suckerpunch decide to do some serious DLC for Infamous before Infamous 2. *sigh*
you didnt need the original gta 4 disc to play, it was stand alone. it is a good game, but the lost and the damned to me felt a bit short, and ended too soon. Ballad was a good game, and there are some good weapons on both of them.
It shall be both on a disc and downloadable from the PS store. Each episode will cost £13.99 on the PS store, so for both it shall cost you £27.98, so its obviously cheaper to buy the disc. Even if it was the same price i'd buy the disc as you can trade it in, give to friends etc.