I really hope this is real. The redesigned D-Pad and joysticks look like an answer to all my fervent prayers.

I hate it.
Some notes:

Analog sticks are concave topped, meaning no more crying about slipping off by 360 fans.
Speaker was kind of different...why is it there? Hopefully it's not a mic. You make people buy headsets, you don't include extras like that. It raises your production cost.
Light bar at the top makes me think of the psmove ball. Tracking?
Where were the shoulder buttons?
Looks a bit fat.

I like this new redesign. It seems more comfortable to hold than the current DS.

The touchpad is a great addition for internet search. I hope PS4 has a new internet browser as well.

It looks way too bulky, the little buttons that go left right top down (can't remember their names for some reason) are way too close together which could cause you to hit the wrong one or hit 2 at the same time etc, overall it just looks way too fat and big in my opinion. It looks like they have also made the controller more wide so that it can fit a bigger touch screen. I hope this isn't the final product. It's like an xbox controller wannabe with that size and I fucking hate the Xbox controller

This is probably just a dev kit model but I like some of the things I'm seeing here.

If that is true I'm happy. The stupid four button d-pad is now a real d-pad and the shape of the controller is rounder like the Xbox 360 controller. The sticks look to be concave instead of the terrible PS3 convex ones. I can't tell if it has real triggers or the stupid square buttons like the PS3, but hopefully they fixed that too.

I'm not convinced it's the real deal just yet. It has a very beta look to it so maybe it's what the devs got and the retail version will be more refined.

A slightly fatter model would appease 360 fans as well.

The D-pad on the PS3 is the best D-pad ever. The 360 d-pad feels "cheap" and clunky and the d-pad on this PS4 controller are way too close together.

Interesting picture on gaf page 11, shows the touch pad having depth sensing kind of tech inside that may function with as a move of sorts.
Oh man, I'm so excited

Controllers are generally more comfortable than handhelds.  Handhelds have to fit in pockets and be easy to carry around, so they pretty much have to be flat and thin, and they can't have things like long obtrusive grips.