File this sexy beauty under AWESOME.
Really though, the video file on this says it all. Rubberized grips on the hand portion, 4 way dpad (as opposed to dpad with directionals). The overall feel is the same as most wired controllers - button sensitivy, stick rotation/sensitivity, button spacing all with no noticeable differances (at least by me). The rubber grips are comfortable, but can attribute to some hand sweating, and I haven't noticed it with any of my other controllers before, but this one has actually rumbled itself off the table during a cutscene before.
The only real negative on this bad boy is (to some) that its wired, and to more of us, that it does not work with generation 1 headsets (the bad boys with the huge plug part that contains also the mute switch on it). This, of course, is no problem to anyone with the newer headsets (either wireless, or containing just the plug at the end), but for those of us who've been around for a while, its troublesome.
Addendum: It's been brought to my attention that thanks to the g2 style mic jack, the controller will probably not work with the controller-plugged keypad either (I don't have one, so I can neither confirm or deny this).