Interesting. I hadn't looked too closely (I don't turn the box upside down enough!), other than to notice the extra shiny miniatures (painted metal) with round bases. The furniture has the shiny look too (probably metal with cardboard) and the doors very much reminds me of the TV commercials. The dice look different. The barbarian hero card has a different illustration. The cardboard art on the furniture often looks different (as pointed out the throne is the coolest example). The cards don't have titles (and the Quest Book lacks a title just has the logo and cover painting). Just about everything looks slightly different from the EU release!
It's unusual in placement in that it actually uses all the rooms (most quests block off a few with stone), although some of them are just empty rooms. It certainly looks cooler to have stuff out all over the board of course.
The board tiles look different too, and while the (much simpler) logo is on the "top" (making it oriented upside down compared to our final board) it is same dimensions as the final board other than the double small room in the upper left was transferred to the upper right section of the lower left quadrant of the board. I also don't see a board seam, as if it was printed as a single sheet attached to the backing board.
At first I thought maybe it would be worth doing a custom board like this but now I'm thinking a couple of room tiles is all you need (and some of those exist already on the Inn).
There's a few errors (or anomalies you could chalk up to it being in mid play), like a few monsters in rooms that don't have doors (or closed doors). The monsters on the side could be destroyed monsters or they might just be there waiting to be placed (2 orcs, a mummy, Chaos Warrior, Fimir and Skeleton). The stairs would not really be "trapped" in that room, in the board pictured that's one big room instead of two tiny ones.
Could make a playable quest out of this...
The box inset on the left shows the pieces with more updated artwork and square bases (and looks to be the modern board too). The figures depicted wouldn't work with the game shown because there are only two bookcases.
Heroscribe wouldn't let me put the bookcase in the lower left corner, but it should be over one row of squares, otherwise I was able to re-create it.
Edit: It seems they ran out of doors, that may explain the trapped skeleton! (Genie reveals a room without entering it and could be used twice with the Spell Ring which isn't available in the EU version and Spell Scrolls are NA expansion only items... but even so it would reveal any doors too)! Could be that Zargon hasn't yet placed the secret door tile for that room...
Edit #2: Thanks to HispaZargo, I edited the Wizard (and the dang door's) position and re-added the missing staircase to the EU version. Fixed at last!