The Xbox 360's controller is very nice. It's D-Pad is not. Microsoft opted for a rocker style pad in the original design. Many gamers didn't like it since the buttons were too low. It wasn't exactly meant for man sized fingers.

The new design is more like the D-Pad on Sony's venerable Dual Shock. Microsoft has raised it, which should improve its feel and ease of use. No more accidentally going to the wrong menu, or having a 2D character go where you don't want them to. Twisting it goes from the original to the new raised plus, depending on which you prefer.
This new controller only comes in a monochrome style. The coloured buttons have been replaced by grey ones. The border along the bottom of the controller is also now piano black rather than a matte grey. Otherwise, the basic design is still the same.

It will launch November 9th exclusively with the Play & Charge kit. The entire package will cost a hefty $64.99.