On the official Paradox Bloodlines 2 page you can see under PRe-Order that Physical release will come too. Now do you think it will be DRM free too or just like much else a disc with Steam Installer?

My money's on disc with Steam launcher. Seems to be the way these things go, and considering that there will undoubtedly be tons of patches for months after release anyway, it almost makes sense.

Technically, just having a Steam launcher doesn't necessarily mean it's not "DRM-free" - although it does require the Steam client and Steam to still be active to download in the first place, it's possible it's been set up to not require the client after that (but the fact you need a client at all is dodgy, and is the main reason I don't tend to get things from Steam, so I see where you're coming from).