Here's how it works, apparently. A little clear piece of plastic with two suction cups is placed on your iPad's screen. From there you use the little conductive "analog stick" thing to control characters on games that require joystick-like controls.
Well, at least it offers some sort of tactile feel. Of course the price ($25) is probably a bit more than most gamers will want to pay for an accessory that just makes their iPad a bit easier to use for some games. The thing definitely looks too big for comfortable use on an iPhone or iPod Touch.
We can't help but be reminded of all the other wonderful inventions we've seen that are designed to provide similar experiences, such as the controllers we featured here, or the iJoyPad. None of those beats the jailbroken iPad with a Wii Remote (which is actually pretty cool, based on the video).
This one is just a step above the little tactile plus stickers we saw for the iPhone a while back.
Still, if you are interested, you can check it out here.