Chaosium kicked off their RPG box set production with a 2″-deep box through 1981. Stormbringer, Call of Cthulhu, and Runequest can all be found in this format in their early editions. In 1982, Chaosium switched to a shallower (lower cost?) 1″-deep box. They would continue with this style through the mid-80’s, before discontinuing boxes altogether in favor of perfect-bound rule books.
So Stormbringer’s 1st editon came in both varieties. (More info on the different printings at our reference site).
All printings of this RPG feature the same portrait of Elric on the cover.
The deep box 1st print is more rare than the later box sets. Sets would have either green or maroon rulebooks. Call of the Cthulhu’s 1st editon is similar, with a True 1st being considerably more rare than the later shallow boxes. Runequest on the other hand, is reversed, the deep boxes being more common than their smaller descendant.