Big news, apparently Microsoft may be updating the Xbox 360 controller according to a "trusted source" of Joystiq's. While the 360 controller does wonders for first person shooters, it appears to not fair so well amongst other genres. That is, of course, up to personal preference.
For those that aren't happy, Microsoft will launch the new controller with a fascinating feature. Turn the d-pad 90 degrees and it pops up about a quarter of an inch. A feature that should especially aid fans of the fighting genre, apparently.
No other details on said controller yet, it'll launch some time this holiday season. Keep your eyes peeled.