I highly doubt it will be limited. It will probably be overstocked and sold for like $60 to dump inventory within a couple months. Your example of the Halo Reach Legendary is a good one - I recall Bungie saying before release that it was going to be extremely limited so if you want to guarantee yourself one you better pre-order months early, or else you would be out of luck... also mentioning that they learned their lesson with the Halo 3 Legendary and producing too many, reducing its value. As it turned out that statement was complete and utter hogwash.
If there is only a certain number of them made then it is limited. The statue is made by triforce and it is hand made (I am pretty sure) so they won't make a ton of them but chances are there will be some left because of the price. I will be buying it Day one along with the controller because I am a huge gear head and I need a new controller. (Right bumper is broke)
You have to understand not many people can buy these with the economy how it is. By a Cap do you mean so you can't order it anymore? The LE at gamestop is already unavailable as far as I know. If you think there will be some after release (There always has for CE's of this price) then do not order it and wait.
Don't forget, Halo Reach LE and Legendary were both "sold out" at GameStop pre-release, but that still hasn't stopped a ton of those editions still collecting dust on store shelves only to be sold at bargain bin prices.
I wouldn't be at all shocked that 2 months later on Black Friday, you'd see these running at 50% off (which prompted me to buy one for a friend) It happened with Halo Reach last year, it'll happen with Gears 3. By EPIC EDITION being "limited" they mean how many people they can screw on full price. That and there won't be any more produced than the initial number of them produced, where as the normal game will stay in production.
I think these are kind of limited (but you never know when Microsoft pulls the marketing strings). In Europe and Rest of the World they have stopped pre-orders a month ago as the US market gets priority. Statues are produced in China, don't be fooled. I think the painting is done in the US.
A lot of people will pre-order this. And it may even sell out. But if people return/don't pick their copy up from the store it's more on the shelf. If you're buying it for the sake of saying "I have this and everyone else doesn't!" you're wasting your time. I have no intention of taking the chance of it not being available, nor do I want to sit and wait a full year or two for the price to drop.
I am getting the console also so i will keep my epic edition sealed and ready for a return if the price drops to $80 like the legendary edition of reach. I got burned also because Bungi said it would be limited.
If you absolutely must have the statue, then you should get it on launch. You never know. If you can live without it, you may want to pick up the regular edition, get your $20 credit and wait to see if the Epic Edition comes down to $50 in 6 months, sell your standard and pick up the epic. That's what I did with Killzone 3.
If it's any indication this trend has happened to nearly every major title's $100+ edition over the past few years.