When you've got a good thing going, the prevailing wisdom says you shouldn't mess with it. But today, at Microsoft's E3 press event, the company unveiled a redesigned Xbox controller: the wireless Elite. The new and improved controller adds four bumper pads under the grips, a textured rolling pad that replaces the standard D-pad and hair-trigger locks for more precise control when slaying the bad guys in your shooter of choice. But what's likely the most exciting aspect of the new Elite controller is the ability to hot swap the aforementioned parts according to your personal configuration. Microsoft didn't commit to a firm launch date for the Elite controller, but you can expect it to arrive sometime this fall.

Update: Microsoft's divulged more key information about its new Xbox controller, namely its price and release date. It'll be available for $150 this October. That's certainly a whole lot of cash to dole out for a new controller. But if you want those modular perks, you'll have to make peace with the price tag.