It's an interesting concept. I don't know if I'll actually get a revolution or have any amount of fun with a controller setup like that, but it is giving developers a chance to create some new, original games that take advantage of the technology. Console games have been getting pretty stale lately.
I read somewhere that you can use the controller resting on your knee, and that it's not like you're swinging and flailing the controller around in the air.
On a side note, "Revolution" might be the production code word. It hasn't been confirmed that it will ship with that name.