Both "versions", probably. Really, though, GNR is GNR, no matter who is in it.
That is completely ignorant. Only the "Appetitie for Destruction" version should be inducted, with some consideration for Matt Sorum and Dizzy Reed. But, AFD is the ground-breaking album that should get them in, not UYI.
To say, that the new members should be inducted is so ridiculous I can't even take it. THEY HAVEN'T EVEN RELEASED AN ALBUM!
And, that's how it works. Sammy Hagar technically doesn't qualify because he has been in the band only 22 years (you need 25 years from your first release). The HOF made an exception. Gary Cherone was in VH, but only for a Gold album. The HOF balked on him.