First Look: Johnny Depp As The Madd Hatter?

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The image above has been floating around the interwebs today (I'm not sure the exact origin, but I've been e-mailed it at least 9 times). Could this be a first look at Johnny Depp as The Madd Hatter in Tim Burton's 3D adaptation of Alice in Wonderland? I don't know. It looks pretty fake (or at least you would hope so). I saw some concept art from the film at the Disney showcase in September, and I don't remember the Hatter looking anything like this. And isn't The Madd Hatter supposed to be performance captured (ala Beowulf)?

Discuss: What do you think? Post your thoughts below!