No man its sucks, no good at all.

Here's why:
-If you're going to rely on your phone to do the gaming, the box is useless
-Why buy games twice?
-The controller is glossy, too clicky and in general cheap
-The controller doesn't support many games, to change this its gonna take a while
-No, you can't map touch areas to buttons and joysticks
-The controller is significantly large, so its not pocketable and not "too portable"
-If you're taking a controller of this size, taking a DSi or Vita is much better since you'll have access to REAL optimized games AND android because of your phone (2 better than 1?)
-If you don't want the alternatives, a Shield is much better because it feels high-end, won't drain your phone's battery as much and in general is more suited for gaming.

So what's my personal take?
-They almost got it right, but off by a mile
-Mold the gamepad for maximum contour comfort
-Use expensive plastic methods (like PS4 controller), and add matte-grippy textures to hand resting spots
-Four shoulder buttons, two joysticks, no D-Pad (honestly) and add 3 action buttons around each joystick
-Universal HID connectivity to PC, Mac, iPhone, Android
-Mappable buttons/sticks to touchscreen (a la SIXAXIS App)
-Internal rechargeable battery (to recharge your phone), better if removable too
-Use USB for No-Lag connection, high-speed charging but offer BT pairing (NFC for autoconnect)
-Have HDMI-out (on the rear) from the gamepad
-Have a headset port (on the front) from the gamepad
-Have the ability for phone to connect to TV's via (higher-speed, stable) Miracast
-Perhaps a tiny HDMI dongle hidden in the back for Miracast (for dumbTVs)
-A fair price $99
-something a bit like this:
http://img854.imageshack.us/img854/6572/controllerp.png