The 10th printing of the AD&D Players Handbook featured a new cover, replacing Dave Trampier's illustration with a new one by Jeff Easley.
This cover was introduced as part of a revamp of the graphical look of the entire AD&D line in 1983. All of the books (with the exception of the Fiend Folio, which Gary Gygax, among others, considered to be an inferior book, possibly explaining the lack of an update) were given new covers, an orange spine, and updated logos. In addition, Deities & Demigods was renamed Legends & Lore. The interiors of all the books were identical to the older printings, right down to listing the wrong cover artists, an error corrected in subsequent printings. The Monster Manual II was the only book in the revamped line whose interior was actually different in style from that of earlier printings, since it was the first new AD&D from the pen of Gary Gygax since 1979's Dungeon Masters Guide. The MMII is noteworthy as well, because it's almost entirely illustrated by "second generation" artists, like Jim Holloway and Larry Elmore. Dave Sutherland has a few illustrations in the book, most notably the polyhedral modrons, creatures that are in my opinion a lightning rod for the generation wars in D&D fandom.
Easley's PHB cover is a fine example of the "technically well done but soulless" style of art that has come to be the mainstay of gaming art since the early to mid-80s. The revised cover is certainly more "dynamic" than Trampier's original. The profusely bearded wizard is engaged in magical pyrotechnics against imps or gargoyles or some other type of winged monster, but this battle takes place nowhere. There's no real context to it or suggestion of an outside world. There are some billowing clouds or smoke that obscure everything except the wizard and his opponents. I suppose one could argue that it's a different instance of the "points of color sparkling in the shadows" I see in the Trampier cover, but that seems like a bit of a stretch here. To me, the Easley cover is simply uninterested in anything beyond the immediate action it illustrates.
In this respect, the cover is strongly character focused. What is important is the character of the wizard and what he specifically is doing. In part, that's of necessity, as there is nothing else on which to focus. The cover is not a wrap-around one. The book cover is just promotional text, like all the revised covers. The wizard himself is still an old school one. He's an old white male, with a ridiculously long beard. He's not wearing a pointy hat or a robe decorated with stars and moons, but he is dressed in flowing robes, complete with a stiff backed collar right out of the Dr. Strange school of magic. But he's not in an old school illustration at all. He's not quite in the full "strike a pose" mode of Larry Elmore or later artists, but his appearance is definitely an atavism, a throwback to an older style of illustration that was passing from the covers of game books.
One of the other really fascinating things about this cover is its logo. The original AD&D books didn't really have logos. The words "Advanced D&D" were included only as small yellow banner in the upper left hand corner, using the same "olde time" font as the OD&D books. This suggests to me that TSR assumed that the vast majority of potential buyers of the AD&D books would be familiar with OD&D or at least didn't need to be sold of the game, because they already knew about it. The revised cover, on the other hand, has a full fledged logo, complete with a fire-breathing dragon doing double duty as an ampersand. There's also the word "official" in front of the words "Advanced Dungeons & Dragons," another telling change about the corporate culture of TSR and how far the industry had move from its hobbyist roots.
All in all, the revised cover of the Players Handbook is not a terrible piece of art, but neither is it very good. It's certainly several steps removed from the traditions of the old school, with just a small iconographic toehold in the past. As a representation of what D&D is supposed to be, it's frankly terrible. It's much too focused on a single individual and his kewl powerz, a trend that has been continued and extended in years since. Combined with the new graphic design and logo, though, you can see the transformation of D&D from a hobby activity to a brand, another trend that, while inevitable, was unfortunate.