I'm a bit apprehensive about the physical design too, but I guess I'll give it a chance until it comes out. I am curious to see how it works though and I really want to get my hands on one once it releases.
It should be noted that the physical design of the controller has changed since this thread was created.
http://www.escapistmagazine.com/new...ith-Analog-Stick-Confirmed-Explained-by-Valve
I'm glad to see they finally added analog sticks, since I doubt I'd get used to the weird trackpad.